Alphabet Inc.

Fears of Big Tech scrutiny hit Wall Street

The tech-focused Nasdaq Composite closed 1.6% lower on Monday — now 10% from the index's record high — as reports about heightened antitrust scrutiny for Apple, Facebook, Amazon and Alphabet hit those companies' share prices.

Chart: Axios Visuals. Data: FactSet

Loon helps restore internet access in Peru

This image shows a large clear balloon from the Loon project.
A Project Loon balloon in Mountain View, Calif. in 2016. Photo: Andrej Sokolow/picture alliance via Getty Images

In the wake of an earthquake in Peru last weekend, Alphabet's Loon unit was able to quickly restore temporary internet access using its balloons.

The big picture: This was due, in large part, because it had already been in talks with Telefonica to bring its service to parts of the country and had offered its service in 2017 after flooding.