Washington (CNN Business) The House Judiciary committee said Monday it is launching a "top-to-bottom" antitrust investigation of the tech industry, including Amazon (AMZN), Apple (AAPL), Facebook (FB) and Google (GOOG), deepening a crisis for Silicon Valley's largest players as they face mounting scrutiny in Washington over their power and influence. Regulators have negotiated to divide oversight of the tech industry between the two agencies in recent weeks, these people said. Long the darling of investors and politicians, the tech industry has come under intense pressure amid an array of privacy missteps, disinformation scandals and allegations of anti-competitive behavior. Key areas for the investigation include the tech industry's impact on local journalism, consumer privacy and the ability for new startups to enter the marketplace, according to Cicilline. At the heart of the inquiry are concerns about what Cicilline called the companies' "tremendous market power," which in some cases he feels has led to their accumulating substantial political power.

Source: CNN June 03, 2019 21:00 UTC