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The S&P 500 Telecommunication Services index fell 8.5% yesterday.
T-Mobile fell 12%, while Verizon and AT&T each fell 11%.
SpaceX bought a nationwide 800 MHz low-band spectrum portfolio and plans to launch Starlink Mobile, targeting existing carrier customers. Low band signals reach inside buildings, addressing a key gap in satellite service.
Carriers rely heavily on monthly phone plans, putting subscribers and pricing at risk.
The telecom index is down 16% over the last 30 days.
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