Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) stock slumped 2.1% through 12:30 p.m. ET Thursday -- and it's not hard to figure out why.

This morning, the European Commission (E.C.) cited the European Union's Digital Markets Act (DMA) in announcing formal proceedings "to assess whether Google applies fair, reasonable, and nondiscriminatory conditions of access to publishers' websites on Google Search." It's this fear of litigation that has investors spooked about Google parent company Alphabet today.

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Source Fool.com