Why your phone company lost value Oct. 9

Shares in AT&T fell 9.9%, Verizon 8.8% and T-Mobile 13.3% on Oct. 9, 2026, Barron's reported. CNBC reported it was Verizon's worst single day since 2002. My view: investors acted as if a new, money-rich rival will arrive, like a fourth supermarket, pushing sales and phone-bill prices down for good.