AT&T is trading 7.65% down at $22.71 after SpaceX’s agreement to acquire Grain Management’s nationwide 800 MHz spectrum portfolio raised concerns about stronger competition from satellite-based mobile services. - The transaction would expand Starlink Mobile’s U.S. wireless ambitions and requires FCC approval. - Reuters reported AT&T and other U.S. and European telecom stocks tumbled, indicating an industry-wide reaction rather than a company-specific announcement. - Broader markets were higher, while declines were concentrated in telecom shares amid competitive-threat concerns.