Meta Defeats Government Antitrust Case

Summary of Meta Defeats Government Antitrust Case

by The Wall Street Journal

13m•November 18, 2025
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Overview of Meta Defeats Government Antitrust Case (The Wall Street Journal — PM Edition)

This episode of WSJ's What's News (hosted by Alex Osola) summarizes major political, legal and market headlines for Tuesday, November 18. Top stories: a federal judge dismissed the FTC’s long-running antitrust case against Meta; President Trump and Saudi Crown Prince Mohammed bin Salman spoke at the White House about Jamal Khashoggi and Saudi investment plans; the House voted to release Justice Department files on Jeffrey Epstein; U.S. markets fell again amid AI and earnings jitters; and a rise in conservative politics across Latin America. The show also touches on international security incidents and aviation safety actions.

Key headlines and takeaways

  • A federal judge dismissed the FTC’s 2020 antitrust lawsuit against Meta (Facebook’s parent), allowing Meta to continue operations and pursue its AI strategy without court-imposed restrictions.
  • President Trump said Saudi Crown Prince Mohammed bin Salman “knew nothing” about Jamal Khashoggi’s 2018 murder — despite earlier CIA findings to the contrary — while MBS pledged investigations and announced plans to invest heavily in the U.S.
  • The House passed a near-unanimous bill forcing the Justice Department to release documents related to Jeffrey Epstein; the measure moves to the Senate.
  • U.S. stock indexes fell for a fourth session amid concerns about AI hype and disappointing corporate results (Home Depot) ahead of key data and Nvidia’s earnings.
  • Latin America is trending right politically, driven chiefly by public concerns about crime, immigration and economic stagnation — a shift with implications for U.S. and Chinese influence in the region.

FTC vs. Meta — what happened and why it matters

  • Background: The FTC sued Meta in 2020, alleging the company acted as a monopoly through acquisitions like Instagram and WhatsApp and unfairly neutralized competitors.
  • Ruling: The judge dismissed the FTC’s case, finding the agency failed to prove Meta currently operates as a monopoly in the market conditions presented at trial.
  • Key dynamics:
    • The suit lagged years behind the market’s evolution; Meta’s business and competitive landscape (TikTok, YouTube, others) changed during litigation.
    • The decision is a major legal win for Meta: no divestitures or operational limits, and Meta can continue large-scale AI investments and product strategies unhindered.
  • Implication: The dismissal weakens one of the government’s marquee tech antitrust actions and highlights the difficulties regulators face when litigation timelines lag fast-changing tech markets.

White House meeting: Trump, MBS and Khashoggi

  • Trump stated MBS “knew nothing” about Jamal Khashoggi’s murder; this contrasts with the CIA’s earlier conclusion that MBS ordered the killing.
  • MBS expressed regret about the loss of life, said Saudi investigators acted to prevent repeats, and announced plans to invest up to $1 trillion in the U.S.
  • Political context: The topic remains sensitive in Washington; Trump initially criticized the push to release certain files (see Epstein story) but later signaled he would sign the Epstein-transparency bill.

House votes to release Epstein-related DOJ files

  • The House passed legislation (nearly unanimously; one dissenting vote) requiring Justice Department disclosure of government files related to Jeffrey Epstein.
  • The bill now heads to the Senate and could be voted on quickly.
  • Political note: The vote exposed GOP divisions; public pressure pushed many Republicans to support the release despite earlier partisan objections.

Markets, earnings and AI developments

  • Market moves: Dow fell ~1.1%, S&P down ~0.8%, Nasdaq down ~1% — marking a fourth straight daily decline.
  • Drivers:
    • Home Depot reported lower Q3 profit and cut guidance; its stock weighed on the Dow.
    • Investor caution around whether the AI-driven rally is sustainable.
    • Nvidia seen as a bellwether for the AI hardware market; its earnings report (after the close the following day) is a major upcoming catalyst.
    • A chip-stock index entered correction territory; specific AI-related names (NVIDIA, Oracle, CoreWeave) have seen notable pullbacks.
  • Big AI financing: Microsoft and Nvidia will invest up to $15 billion in Anthropic; Anthropic committed to $30 billion of computing capacity on Microsoft Azure (built on Nvidia hardware).

Global and security news

  • Poland rail explosion: Polish officials allege Russia orchestrated a Saturday attack via two Ukrainian collaborators; the Kremlin denies involvement. Western officials view this as potential destabilizing sabotage.
  • Aviation safety: Airlines and engine makers are adopting new measures to limit toxic fume incidents in cabins/cockpits, following a WSJ report about rising leaks of oil and other fluids into engines.

Latin America: the turn to the right

  • Trend: Recent elections (Chile, Argentina, Bolivia) show stronger support for conservative candidates and policies.
  • Main drivers:
    • Public concern over rising crime and street violence (violent crime, theft).
    • Immigration pressures (notably Venezuelan migrants).
    • Economic frustration after years of slow growth; voters favor more business-friendly platforms.
  • Geopolitics: The shift presents an opportunity for U.S. engagement (access to strategic minerals like copper, lithium, rare earths) but governments still rely heavily on China for trade, investment and financing. Expect countries to balance relations with both powers.

Notable quotes

  • President Trump on MBS and Khashoggi: “Whether you like him or didn’t like him, things happened, but he knew nothing about it.”
  • MBS on the killing: “It’s really painful to hear anyone losing his life for no real purpose or not in a legal way.”

What to watch next

  • Nvidia’s earnings (reported after the close the following day) — major indicator for AI hardware demand.
  • Delayed U.S. September jobs report due Thursday — will clarify broader economic momentum.
  • Senate action on the Epstein-transparency bill.
  • Texas appeal of the court order blocking the new congressional map — potential Supreme Court involvement.
  • Continued regulatory and market reaction to the Meta ruling (possible FTC appeal).

Credits

  • Host: Alex Osola. Reporters featured: Megan Bobrowski (Meta case), David Huberti (markets/AI), Samantha Pearson (Latin America). Production noted in the episode: Pierre Bien-Aimé, Zoe Kolkin; supervising producer Tali Arbel.