Nintendo, Sony fall after Google unveils a gaming service

Sundar Pichai, chief executive officer of Google LLC, speaks during an event at the Game Developers Conference in San Francisco, California, U.S., on Tuesday, March 19, 2019. The Alphabet Inc. unit unveiled a new game streaming service called Stadia. The announcement marks a major new foray into the $180 billion industry for the internet giant. Photographer: David Paul Morris/Bloomberg

Sony Corp and Nintendo Co shares slid after Alphabet Inc’s Google outlined a major push into videogames with a streaming service called Stadia.

Nintendo dropped as much as 4.6% and Sony declined 4.5% March 20, the biggest intraday drop for both stocks in six weeks. Stadia lets developers put games on a streaming platform that will allow players to access the action through the web, skipping expensive consoles or personal computers, Google announced at the Game Developers Conference in San Francisco.