EU to investigate Amazon next year, its share price drops by 3% post report

The European Union’s antitrust regulator is likely to investigate the US-based online retailer Amazon over favouring its own products and services on its marketplace, Reuters reports. The inquiry against Amazon is being pursued by EU regulators under its landmark antitrust legislation.

As per the Reuters report, Amazon could face a massive fine of up to 10 per cent of its annual global revenue, if it is found guilty of breaching the European Union’s Digital Markets Act (DMA), a law that aims to rein in the power of big tech companies.