A simmering regulatory dispute across the Atlantic Ocean put a damper on Meta Platforms (NASDAQ: META) on Tuesday. The social media giant's shares generally traded sideways during the session as a result, as the S 500 index cruised to a gain of 0.6% on the day.

For years, the 27-country European Union (E.U.) has targeted U.S. tech giants for their reach and power. In the E.U.'s latest attempt at mitigating this, one of its top regulators has warned such companies to trim certain fees for their services.

Specifically, E.U. antitrust chief Margrethe Vestager has warned Meta Platforms and its fellow Silicon Valley titan Apple (NASDAQ: AAPL) to cut fees they recently introduced for certain users. In the former company's case, E.U. users must pay 9.99 euros ($10.87) per month for advertising-free versions of its Facebook and Instagram social media sites. The subscription tier was introduced in order to comply with the E.U.'s relatively strict Digital Markets Act (DMA).

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Source Fool.com