Welcome to Markets Desk, here's what's moving markets right now.
Alphabet took a brutal hit today as its market value shed roughly five hundred billion dollars, a staggering single-session loss tied to mounting antitrust pressure from the Department of Justice and growing investor concern that the search giant's dominance in online advertising faces a genuine structural threat.
Turning to crypto, Coinbase delivered a strong third quarter, with net income surging sixty-six percent, driven by a meaningful recovery in bitcoin prices and a lift from the company's own crypto investment holdings. The results cleared analyst expectations by a comfortable margin and signal that sentiment in digital assets is finding firmer ground heading into year-end.
Meanwhile, Meta is drawing scrutiny from shareholders after executing a roughly one hundred billion dollar stock issuance that dilutes existing ownership stakes. The company reported record daily active users across its platforms at three point six four billion in September, but the share count expansion means investors now own a smaller slice of that growth than they did before.
That's the tape. Markets Desk, signing off the floor.
