Screenshot of YouTube.com

YouTube said Wednesday it was suspending ad revenue opportunities for Steven Crowder, a popular conservative creator who used a variety of racial and homophobic insults against Vox journalist Carlos Maza.

Why it matters: The Google-owned video site had been accused of failing to uphold its own standards after taking no action despite video clips showing Crowder directing various insults at Maza. Crowder is popular on YouTube, with more than 3.8 million people subscribed to his channel.

What they're saying: "We came to this decision because a pattern of egregious actions has harmed the broader community and is against our YouTube Partner Program policies," YouTube said in a Twitter post that referenced a 2018 policy update.

Meanwhile: Earlier today YouTube said it was tightening a variety of policies regarding the availability and prominence of hate speech on its site.

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Big Tech's share of the S&P 500 reached record level in August

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Reproduced from The Leuthold Group; Chart: Axios Visuals

The gap between the weighting of the five largest companies in the S&P 500 and the 300 smallest rose to the highest ever at the end of August, according to data from the Leuthold Group.

Why it matters: The concentration of wealth in a few massive U.S. tech companies has reached a scale significantly greater than it was before the dot-com bubble burst.