Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

Broad U.S. antitrust action against Big Tech moved firmly from the speculative realm to the investigative mode in the last 72 hours, as both Congress and regulatory agencies appeared to be moving forward with inquiries.

The big picture: While the pressure on the likes of Google, Facebook, Amazon and Apple has been mounting for years, the one-two punch of a public Congressional investigation into their dominance and possible antitrust probes by regulators marks a major escalation in tensions.

  • Last year saw high-profile testimony by CEOs like Facebook's Mark Zuckerberg, but the action will now shift to more mundane yet substantial document and evidence gathering that would form the basis of court cases or settlements.

Driving the news: The House Judiciary Committee said Monday that it was launching a bipartisan investigation into whether big tech platforms are engaged in monopolistic practices.

  • A person familiar with the investigation said that, in addition to public hearings, the inquiry would include requesting documents from a wide range of companies.
  • That could allow the committee to receive information from small competitors of the tech giants who would otherwise be wary of testifying publicly, the person said.
  • "Given the growing tide of concentration and consolidation across our economy, it is vital that we investigate the current state of competition in digital markets and the health of the antitrust laws," said Rep. Jerrold Nadler (D-N.Y.), the committee's chairman.
  • Tech stocks fell in Monday trading as the federal interest in the companies came into focus.

Between the lines: The investigation could help lawmakers develop a factual record to shape legislation overhauling the nation's antitrust laws, which reformers say are inadequate for reining in corporate power as it exists today.

The announcement followed reporting over the weekend and into Monday that the Justice Department and the Federal Trade Commission had split up the field of investigations into anti-competitive behavior by tech giants.

Why it matters: Of the many ways critics want to address concerns about Big Tech, antitrust action has always been among the most significant — although it was largely seen as the least likely route.

  • It could result in action as serious as the firms being broken up, but even if it doesn't, it could seriously distract the platforms' efforts to grow their main businesses and anticipate new waves of tech innovation. Microsoft learned this lesson the hard way after its antitrust fight with Washington two decades ago.

What we're watching: Congressional hearings on the issue will unfold in the coming months, and signs that DOJ and FTC are moving forward with formal investigations into the tech giants could leak out in the form of official inquiries sent to the companies or their competitors.

Our thought bubble: Once inquiries like this get started, they develop their own momentum even as they proceed at what feels like a leaden pace to tech insiders. These companies likely face years of entanglement.

Go deeper

2 hours ago - World

In photos: Protests in U.S., across the world over Israeli–Palestinian conflict

A protest march in support of Palestinians near the Washington monument in Washington, D.C. on May 15. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

Thousands of people rallied across the U.S. and the world Saturday following days of violence in Gaza and Israel that's killed at least 145 Palestinians, including 41 children, and eight Israelis, per AP.

The big picture: Most demonstrations were in support of Palestinians. There were tense scenes between pro-Israeli government protesters and pro-Palestinian demonstrators in Winnipeg, Canada, and Leipzig, Germany, but no arrests were made, CBS News and DW.com report.

Updated 9 hours ago - World

Biden in call with Netanyahu raises concerns about civilian casualties in Gaza

Photo: Ahmad Gharabli/Nicholas Kamm/Getty Images

President Biden spoke to Israeli Prime Minister Benjamin Netanyahu Saturday and raised concerns about civilian casualties in Gaza and the bombing of the building that housed AP and other media offices, according to Israeli officials.

The big picture: At least 140 Palestinians, including dozens of children, have been killed in Gaza since fighting between Israel and Hamas began Monday, according to Palestinian health officials. Nine people, including two children, have been killed by Hamas rockets in Israel.

Updated 10 hours ago - Politics & Policy

"Horrified": AP, Al Jazeera condemn Israel's bombing of their offices in Gaza

A ball of fire erupts from the Jalaa Tower as it is destroyed in an Israeli airstrike in Gaza. Photo: Majdi Fathi/NurPhoto via Getty Images

The Associated Press and Al Jazeera on Saturday condemned the Israeli airstrike that destroyed a high-rise building in Gaza that housed their and other media offices.

What they're saying: The White House, meanwhile, said it had "communicated directly to the Israelis that ensuring the safety and security of journalists and independent media is a paramount responsibility," according to press secretary Jen Psaki.