Tech Risks Pile Up as ‘Treacherous’ Antitrust Looms Over Stocks

Among the many headwinds facing big tech these days, a perhaps-unexpected one continues to nag at investors: an aggressive antitrust posture coming out of Washington.

Just as the Trump administration’s focus on tariffs has roiled markets, its hard-line view against megacap tech stocks — many of which are facing antitrust or regulatory probes — has also caught some off guard.

“People expected a complete loosening of regulation, and there’s been a surprise that the Trump administration has continued things that began under Biden,” said Monica Guerra, head of US policy at Morgan Stanley Wealth Management. “I don’t think there’s ...