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Telecom stocks slide on SpaceX spectrum deal

Original: US, European telecom stocks slide as SpaceX spectrum deal rattles sector

Shares in US and European telecom companies fell after a spectrum deal involving SpaceX raised concerns about new competition in the wireless industry. Investors worry that Elon Musk's satellite company gaining access to spectrum could disrupt traditional mobile operators' business models, sending telecom stocks down across both markets.

Why now: Investors fear SpaceX's entry into spectrum use threatens the business models of established telecom operators.

SpaceXElon MuskEuropean telecom companiesUS telecom companies

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Evidence

• US, European telecom stocks slide as SpaceX spectrum deal rattles sector · Reuters

API: https://socialmediatrends-api.osmike.com/v1/trends/1592949