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Technology Shares Rise Even as Lawmakers Propose Regulation -- Tech Roundup

06/11/2021 | 05:20pm EDT

Shares of technology companies rose even as the specter of more government regulation loomed.

House lawmakers proposed a raft of bipartisan legislation aimed at reining in the power of Big Tech, including a bill that aims to make Amazon.com and other large companies effectively split into two companies or shed their private-label products.

The House bills amount to the biggest Congressional broadside yet on a handful of technology companies -- including Alphabet's Google, Apple and Facebook as well as Amazon -- whose enormous size and power have drawn growing scrutiny from lawmakers and regulators in the U.S. and Europe.

Didi Chuxing Technology, the Chinese ride-hailing behemoth, made its IPO papers public on Thursday, setting the company up to raise billions and begin trading publicly in the U.S. in July.

 Write to Amy Pessetto at amy.pessetto@dowjones.com 

(END) Dow Jones Newswires

06-11-21 1719ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.59% 2638 Delayed Quote.52.95%
APPLE INC. -1.49% 146.77 Delayed Quote.12.28%
DJ INDUSTRIAL -0.24% 35058.52 Delayed Quote.14.56%
FACEBOOK INC -1.25% 367.81 Delayed Quote.36.35%
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