Tuesday, June 4, 2019

“Stocks Slip as Trade Tensions Continue - The New York Times” plus 1 more

“Stocks Slip as Trade Tensions Continue - The New York Times” plus 1 more


Stocks Slip as Trade Tensions Continue - The New York Times

Posted: 03 Jun 2019 06:33 AM PDT

Technology stocks tumbled on Monday, as declines in the biggest companies in the sector punctuated an otherwise quiet day on Wall Street.

Google, Amazon, Facebook and Apple were all lower, following reports that the tech giants are facing greater scrutiny from antitrust regulators in the Justice Department and Federal Trade Commission. The technology-heavy Nasdaq index fell by 1.6 percent, bringing its decline from an early May record to 10 percent.

Regulators appear to be splitting up oversight of the four companies. The Justice Department is exploring an investigation of Google's advertising and search business, and will oversee antitrust complaints over Apple. The F.T.C. will look into anticompetitive practices at Amazon and Facebook.

The delegation of responsibility does not mean that official investigations have been opened, or will be.

Still, investors reacted to the reports by dumping shares of all four companies. Shares of Facebook fell more than 7 percent, while Google's parent, Alphabet, fell by about 6 percent. Amazon was down 4.6 percent, while Apple was 1 percent lower.

[Big Tech Antitrust Scrutiny Extends to Facebook and Apple]

The F.T.C. in February said that it was creating an antitrust task force to look at the tech industry. It is also negotiating with Facebook over a fine for violating a 2011 privacy settlement, which could be as high as $5 billion.

But the addition of the Justice Department to antitrust oversight points to American regulators' growing unease with the clout wielded by a handful of Silicon Valley businesses.

The broader S&P 500 index was down slightly, but

investors remained watchful of developments on the trade front, after stocks suffered their sharpest monthly decline this year in May with a 6.6 percent drop. That nervousness lingered in the bond market Monday, with the yield on 10-year Treasury bonds falling, suggesting that investors increasingly believe trade tensions could hinder world economic growth.

[Things Were Going Great for Wall Street. Then the Trade War Heated Up.]

On Sunday, China issued a defiant note with a white paper blaming the United States for starting the trade war between the two countries, suggesting that breaking the impasse will be difficult. Two days earlier, the Chinese government threatened to put American companies and individuals on a blacklist if they stopped supplying their Chinese partners.

But stocks were bolstered in part by rising expectations that the Federal Reserve could start cutting interest rates in response to the rising trade tensions. In a prepared statement, St. Louis Federal Reserve President James Bullard on Monday said lower Fed rates "may be warranted soon."

[Wall Street Pins Its Hopes on Fed Rate Cuts]

Sunday's Google Cloud outage impacted Gmail, YouTube, Snapchat, with global ripple effects - FierceTelecom

Posted: 03 Jun 2019 07:07 AM PDT

Google Cloud has bounced back from a major outage Sunday that impacted its own services, including YouTube and Gmail, as well as those of some of its clients.

The network outage primarily occurred on the East Coast of the U.S., but services that radiated out from there were also affected. After about four hours of problems, Google said the issues were resolved on Sunday.

"The network congestion issue in eastern USA, affecting Google Cloud, G Suite, and YouTube has been resolved for all affected users as of 4:00 p.m. Pacific," according to a Google Cloud status dashboard. "We will conduct an internal investigation of this issue and make appropriate improvements to our systems to help prevent or minimize future recurrence. We will provide a detailed report of this incident once we have completed our internal investigation. This detailed report will contain information regarding SLA credits."

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceTelecom!

The Telecom industry is an ever-changing world where big ideas come along daily. Our subscribers rely on FierceTelecom as their must-read source for the latest news, analysis and data on the intersection of telecom and media. Sign up today to get telecom news and updates delivered to your inbox and read on the go.

Other than "network congestion," Google Cloud hasn't provided additional details on what caused the widespread outage across its own sites, including YouTube, Nest and Gmail, and social media sites such as Snapchat, Vimeo and Discord.

Whether the outage was due to a network congestion issue or a large distributed denial-of-service attack along the Eastern seaboard, it's still a black eye for Google, and a lesson to some of its customers that putting all of your eggs in one cloud provider's basket isn't a good practice.

The outage also comes on the heels of last week's news that the U.S. Department of Justice is reportedly preparing an antitrust probe against Alphabet subsidiary Google, according to The Wall Street Journal.

RELATED: Google Cloud sees uptick in deals greater than $100M

Aside of social media apps being down, the outage meant that some of Google's Nest customers couldn't use their Nest thermostats, Nest smart locks, and Nest cameras, according to Twitter posts on Google Nest.

Monitoring company ThousandEyes confirmed Monday morning that the outage was likely caused by network congestion, and that the issues rippled across the globe.

Source: Thousandeyes

"We started seeing elevated packet loss in Google's network as early as 12 p.m. PT between sites on the eastern U.S., including Ashburn, Atlanta and Chicago, and various Google-hosted services," a company spokesman said in an email to FierceTelecom. "These issues started to impact users globally approximately 20 minutes prior to their public announcement of the issue, showing an early indication of what was to come. For the majority of the duration of the 4-plus hour outage, ThousandEyes detected 100% packet loss for certain Google services from 249 of our global vantage points in 170 cities around the world. Starting at around 3:30 p.m. PT, we started to see services slowly become reachable again, and the issue appeared to fully resolve by 4:45 p.m. PT."

Google first announced on Sunday that it was experiencing multi-region issues with Google Compute Engine. At 9:25 a.m. PT, Google reported "high levels of network congestion in the eastern USA, affecting multiple services in Google Cloud, G Suite and YouTube. Users may see slow performance or intermittent errors," the company said in a statement around 3 p.m. PT. "We believe we have identified the root cause of the congestion and expect to return to normal service shortly."

Google announcement that the issues had been resolved appeared around 5 p.m. PT on Sunday.  

Google has been down this road before. In November it lost control of several million of its IP addresses for more than hour, which impacted its search engine and other outside services, according to Ars Technica.

“Stocks Slip as Trade Tensions Continue - The New York Times” plus 1 more


Stocks Slip as Trade Tensions Continue - The New York Times

Posted: 03 Jun 2019 06:33 AM PDT

Technology stocks tumbled on Monday, as declines in the biggest companies in the sector punctuated an otherwise quiet day on Wall Street.

Google, Amazon, Facebook and Apple were all lower, following reports that the tech giants are facing greater scrutiny from antitrust regulators in the Justice Department and Federal Trade Commission. The technology-heavy Nasdaq index fell by 1.6 percent, bringing its decline from an early May record to 10 percent.

Regulators appear to be splitting up oversight of the four companies. The Justice Department is exploring an investigation of Google's advertising and search business, and will oversee antitrust complaints over Apple. The F.T.C. will look into anticompetitive practices at Amazon and Facebook.

The delegation of responsibility does not mean that official investigations have been opened, or will be.

Still, investors reacted to the reports by dumping shares of all four companies. Shares of Facebook fell more than 7 percent, while Google's parent, Alphabet, fell by about 6 percent. Amazon was down 4.6 percent, while Apple was 1 percent lower.

[Big Tech Antitrust Scrutiny Extends to Facebook and Apple]

The F.T.C. in February said that it was creating an antitrust task force to look at the tech industry. It is also negotiating with Facebook over a fine for violating a 2011 privacy settlement, which could be as high as $5 billion.

But the addition of the Justice Department to antitrust oversight points to American regulators' growing unease with the clout wielded by a handful of Silicon Valley businesses.

The broader S&P 500 index was down slightly, but

investors remained watchful of developments on the trade front, after stocks suffered their sharpest monthly decline this year in May with a 6.6 percent drop. That nervousness lingered in the bond market Monday, with the yield on 10-year Treasury bonds falling, suggesting that investors increasingly believe trade tensions could hinder world economic growth.

[Things Were Going Great for Wall Street. Then the Trade War Heated Up.]

On Sunday, China issued a defiant note with a white paper blaming the United States for starting the trade war between the two countries, suggesting that breaking the impasse will be difficult. Two days earlier, the Chinese government threatened to put American companies and individuals on a blacklist if they stopped supplying their Chinese partners.

But stocks were bolstered in part by rising expectations that the Federal Reserve could start cutting interest rates in response to the rising trade tensions. In a prepared statement, St. Louis Federal Reserve President James Bullard on Monday said lower Fed rates "may be warranted soon."

[Wall Street Pins Its Hopes on Fed Rate Cuts]

Sunday's Google Cloud outage impacted Gmail, YouTube, Snapchat, with global ripple effects - FierceTelecom

Posted: 03 Jun 2019 07:07 AM PDT

Google Cloud has bounced back from a major outage Sunday that impacted its own services, including YouTube and Gmail, as well as those of some of its clients.

The network outage primarily occurred on the East Coast of the U.S., but services that radiated out from there were also affected. After about four hours of problems, Google said the issues were resolved on Sunday.

"The network congestion issue in eastern USA, affecting Google Cloud, G Suite, and YouTube has been resolved for all affected users as of 4:00 p.m. Pacific," according to a Google Cloud status dashboard. "We will conduct an internal investigation of this issue and make appropriate improvements to our systems to help prevent or minimize future recurrence. We will provide a detailed report of this incident once we have completed our internal investigation. This detailed report will contain information regarding SLA credits."

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceTelecom!

The Telecom industry is an ever-changing world where big ideas come along daily. Our subscribers rely on FierceTelecom as their must-read source for the latest news, analysis and data on the intersection of telecom and media. Sign up today to get telecom news and updates delivered to your inbox and read on the go.

Other than "network congestion," Google Cloud hasn't provided additional details on what caused the widespread outage across its own sites, including YouTube, Nest and Gmail, and social media sites such as Snapchat, Vimeo and Discord.

Whether the outage was due to a network congestion issue or a large distributed denial-of-service attack along the Eastern seaboard, it's still a black eye for Google, and a lesson to some of its customers that putting all of your eggs in one cloud provider's basket isn't a good practice.

The outage also comes on the heels of last week's news that the U.S. Department of Justice is reportedly preparing an antitrust probe against Alphabet subsidiary Google, according to The Wall Street Journal.

RELATED: Google Cloud sees uptick in deals greater than $100M

Aside of social media apps being down, the outage meant that some of Google's Nest customers couldn't use their Nest thermostats, Nest smart locks, and Nest cameras, according to Twitter posts on Google Nest.

Monitoring company ThousandEyes confirmed Monday morning that the outage was likely caused by network congestion, and that the issues rippled across the globe.

Source: Thousandeyes

"We started seeing elevated packet loss in Google's network as early as 12 p.m. PT between sites on the eastern U.S., including Ashburn, Atlanta and Chicago, and various Google-hosted services," a company spokesman said in an email to FierceTelecom. "These issues started to impact users globally approximately 20 minutes prior to their public announcement of the issue, showing an early indication of what was to come. For the majority of the duration of the 4-plus hour outage, ThousandEyes detected 100% packet loss for certain Google services from 249 of our global vantage points in 170 cities around the world. Starting at around 3:30 p.m. PT, we started to see services slowly become reachable again, and the issue appeared to fully resolve by 4:45 p.m. PT."

Google first announced on Sunday that it was experiencing multi-region issues with Google Compute Engine. At 9:25 a.m. PT, Google reported "high levels of network congestion in the eastern USA, affecting multiple services in Google Cloud, G Suite and YouTube. Users may see slow performance or intermittent errors," the company said in a statement around 3 p.m. PT. "We believe we have identified the root cause of the congestion and expect to return to normal service shortly."

Google announcement that the issues had been resolved appeared around 5 p.m. PT on Sunday.  

Google has been down this road before. In November it lost control of several million of its IP addresses for more than hour, which impacted its search engine and other outside services, according to Ars Technica.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.