While the complaint is directly against Google, it underscores the EU's regulatory environment's impact on tech companies, including those in Germany. This could lead to a cautious approach towards investments in German tech sectors, potentially affecting the EWG ETF. However, the direct impact is likely to be minimal, hence the neutral score.

Given the EU's stringent stance on tech regulation, a complaint of this nature could lead to investigations and actions that may restrict Google's operations or lead to financial penalties. Such developments tend to negatively impact investor sentiment and can lead to a decrease in stock price in the short term.

Alphabet Inc., being the parent company of Google, faces similar risks as Google in terms of regulatory scrutiny and potential penalties in the EU. This can lead to negative investor sentiment and a potential decrease in stock price, especially if the complaint leads to significant regulatory action.