President-elect Donald Trump’s pick of Andrew Ferguson to head the Federal Trade Commission is the latest sign that his administration plans to continue a crackdown on Big Tech bad

Alphabet led a Big Tech rally on Wednesday, with its stock hitting a record high after U.S. President-elect Donald Trump picked Federal Trade Commissioner Andrew Ferguson to lead the consumer protection and antitrust agency.

President-elect Donald Trump has picked Republican lawyer Andrew Ferguson as his nominee for the next chair of the FTC. He would succeed Lina Khan, who has been tough on approving mergers—and has been cracking down on Big Tech.