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• The antitrust stances of both presidential candidates present risks to big tech stocks. President Trump has attacked Amazon and Facebook for anticompetitive tendencies on shipping, e-commerce and the press. But with Democrats ahead in the polls and having pushed these regulations for years, the bigger question probably is what happens if Joe Biden becomes president and the party takes the Senate
• Antitrust isn’t a short game, the process takes years. But given that underlying structural changes in the economy point to an even stronger tech industry, the risk of further antitrust scrutiny should only grow from here