Shares in U.S. tech giants slips after landmark G7 tax deal

Shares in U.S. technology giants were down slightly in premarket trading after the world’s richest nations agreed on a landmark global minimum corporate tax deal.

The Group of Seven (G7) advanced economies agreed on Saturday to back a minimum global corporate tax rate of at least 15%.

Shares of Facebook, Amazon.com, Apple, Microsoft and Google-parent Alphabet were all down between 0.3% and 0.6%.

The G7’s proposals are seen targeting technology companies that sell services remotely and attribute much of their profits to intellectual properly held in low-tax jurisdictions.

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