Brussels, Belgium – The European Union has officially launched a sweeping antitrust investigation into several of the world’s largest technology companies over alleged anti-competitive practices. The European Commission, the EU’s executive arm, announced on Monday that it is examining whether these firms have unfairly leveraged their dominant market positions in areas such as digital advertising, e-commerce, and mobile app stores to stifle competition.

The probe targets a handful of “gatekeeper” companies, whose names have not all been publicly disclosed but are widely understood to include major players from the United States and Asia. This move marks one of the most significant regulatory challenges to the global tech industry in years and signals a hardening stance from European regulators.

EU Competition Commissioner Margrethe Vestager stated that the investigation will focus on “ensuring a level playing field in the digital single market.” The Commission is concerned that the practices of these tech giants could be limiting consumer choice, inflating prices, and creating insurmountable barriers for smaller innovative companies.

The investigation follows the full implementation of the EU’s landmark Digital Markets Act (DMA), a comprehensive set of regulations designed to rein in the power of Big Tech. If found guilty of breaching these rules, the companies could face fines of up to 10% of their global annual turnover, a figure that could amount to billions of dollars.

Shares of several major technology companies saw a slight dip in pre-market trading following the announcement. The investigation is expected to be a lengthy and complex process, potentially setting a new global precedent for how governments regulate the ever-expanding digital economy.