US Stock Market Move | Three major telecom stocks fall collectively; AT&T (T.US) drops over 5%.
On Friday, the three major US telecom stocks fell collectively, with AT&T (T.US) dropping over 5%.
On Friday, the three major US telecom stocks fell collectively: AT&T (T.US) dropped over 5%, T-Mobile US (TMUS.US) fell nearly 4%, and Verizon (VZ.US) declined 3%. On the news front, SpaceX is reportedly seeking talks with cellular infrastructure companies, planning to leverage existing satellite networks and ground base station resources to enter the US mobile communications market. Investors are concerned that if SpaceX successfully launches a nationwide wireless carrier plan, it would pose a direct threat to the subscriber base and pricing power of the three major carriers.
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