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Tech Down Sharply on Recession Fears -- Tech Roundup

09/15/2022 | 05:23pm EST

Shares of technology companies fell sharply as investors positioned for a recession in the wake of mixed economic data.

Software giant Adobe agreed to buy collaboration-software company Figma for around $20 billion, in the technology giant's largest acquisition. Adobe shares fell sharply, reflecting skepticism about the prudence of the deal.

The U.K.'s competition regulator is set to escalate an antitrust investigation into Microsoft's planned acquisition of Activision Blizzard.

Amazon. com and Apple both passed on the media rights to controversial Saudi Arabia-backed tour LIV Golf, The Wall Street Journal reported.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

09-15-22 1722ET

Stocks mentioned in the article
ChangeLast1st jan.
ACTIVISION BLIZZARD, INC. -0.52% 73.95 Delayed Quote.11.15%
ADOBE INC. 5.55% 344.93 Delayed Quote.-42.37%
APPLE INC. 4.86% 148.03 Delayed Quote.-20.50%
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