Amazon Sheds $53 Billion In Market Value After Report On Trump Threat

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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.

Read more at REUTERS.

{Matzav.com}

4 COMMENTS

  1. Although Trump’s reasons for attacking Amazon are personal against Bezos, I believe that Trump is right. Amazon now and walmart 20 years ago have destroyed countless communities and small businesses. instead of having a main street with 50 different small stores each making a living and contributing to the communities they serve, now you have 1 or 2 behemoths that sell everything and swallowed up everyone with no regard for the communities that they’ve destroyed. All in the name that the consumer can save a couple of cents…

  2. I want to remind everyone that amazon is giving business to tens of thousands of people besides for all the people that are selling things on amazon. Google how many workers does amazon have!!!!!!everyone is badly misinformed!!!!!!!!!!!!!!!!

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