What happened
Shares of the technology giant Apple (AAPL +2.63%) were falling today, likely for two separate reasons. The first is that Reuters reported this morning that Apple could face additional antitrust changes by the European Union (EU), and the second is that Apple's stock is probably sliding along with the broader market's drop today.
The tech stock fell by as much as 2.3% today and was down by 1.9% as of 1:57 p.m. ET.
So what
Reports of the EU looking into potential antitrust issues with Apple isn't new -- regulators began their probe last year. But what is new is that they appear to be adding a new charge against Apple for "distorting competition in the music streaming market," according to Reuters.
Image source: Apple.
Neither Apple nor the EU has commented on today's report, but the news agency says that the charges could be disclosed in the coming weeks, and they stem from a complaint filed by music streaming rival Spotify.
Being scrutinized for potential antitrust issues isn't exactly new territory for Apple, but some investors may be concerned that Apple could have a lengthy court battle ahead of it.
Additionally, Apple's stock is likely also falling today in sympathy with the S&P 500's 1.2% drop.
Investors are growing increasingly concerned that inflation -- which is at a 40-year high -- could continue to have a negative effect on the U.S. economy.
All eyes are on the Federal Reserve, which will meet again next month, to see to what degree officials will raise interest rates to tamp down inflation.
NASDAQ: AAPL
Key Data Points
Now what
With so much uncertainty in the market right now and Apple facing potentially new charges in an antitrust case, it's not surprising that some investors sold Apple's stock today.
But long-term investors should keep all of the volatility in perspective and remember that nothing has fundamentally changed with Apple's business. Instead of selling on the news or panicking because other investors are selling, investors would do better to remember that buying and holding shares of great companies for five years or more is the best way to build wealth.
