Amazon.com Inc shares fell as much as 7.4 percent on Wednesday, wiping about $53.6 billion from its market value after President Trump reportedly indicated he wanted to rein in the U.S. technology and retail group.
Trump talked about changing Amazon’s tax treatment because he is worried about mom-and-pop retailers being put out of business, the Axios website reported.
The stock, which fell as low as $1,386.17, was last down 4 percent at $1,439,50, giving it a market value of around $681 billion. The stock was on track for its biggest one-day percentage decline since Jan. 29 2016.
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