Regulators Force Retreat

The most likely path is rapid scrutiny from the European Commission, national competition authorities, and possibly the U.S. FTC because Meta is already defending itself against monopoly claims and DMA probes. The ad-link ban gives regulators a concrete exclusionary-conduct allegation tied directly to TikTok and ByteDance.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.