Amazon.com Inc shares fell as much as 7.4 percent on Wednesday, wiping about $53.6 billion from its market value after U.S. President Donald 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 pared losses after a White House official said it did not know of any specific policy changes related to Amazon at the moment, adding that it was always looking at different options on a range of policy issues.

Amazon could not be reached immediately reached for comment.

Trump has taken aim at the company over taxes and jobs, without offering evidence. The retailer's chief executive officer, Jeff Bezos, owns the Washington Post, which Trump has frequently criticized.

"Capitol Hill wants Facebook's blood, but President Trump isn't interested. Instead, the tech behemoth Trump wants to go after is Amazon," Axios reported, citing five sources who have discussed the issue with him.

Tech stocks are already under pressure after Facebook Inc acknowledged earlier this month that user data had been improperly harvested by a consultancy firm.

"With Facebook and regulatory worries, the last thing nervous tech investors wanted to see was news that Trump is targeting Bezos and Amazon over the coming months as this remains a lingering cloud over the stock and heightens the risk profile in the eyes of the Street," GBH Insights analyst Daniel Ives said.

Less than two hours into the trading session, its trading volume had already exceeded the 10-day moving average for a full day.

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.

Source - https://prexblog.com/amazon-lost-53-billion-in-one-day-over-donald-trumps-opinion/

Eeyah

Trumpism

Rich people problems

Can that make Bill Gates to overtake him as no. 1?

obaataaokpaewu:
Can that make Bill Gates to overtake him as no. 1?

It's possible because Trump is going all out to attack Amazon

Am i the only one that don't understand the whole story?

crownedprinz:
Am i the only one that don't understand the whole story?

Ohh, you can read it from the source. It was explained and simplified there.

It's about Donald Trump trying to stop Jeff Bezos - World richest man, from USA post office delivery service. This drastically make Amazon lost over $53 billion in just a day.

This is the difference between Power and Money... Dangote is 100% richer than buhari ..but buhari has the power to fvck him up big time

Trump dey worry o

This dotard will surely bring that great nation to its knees; he's clueless and naive.



He will be impeached one day. I keep saying that.

See bar

This president made one person to loss dt amount...

While our president made all of us loose our senses

Espada10:
This is the difference between Power and Money... Dangote is 100% richer than buhari ..but buhari has the power to fvck him up big time

I once had that argument with my friends. Authority pass power. Government can make or Mar you.

This Trump is a problem

We have Buhari punishing us, US has Trump. Happy Easter NLanders

I don't really understand all that is written up there sef

Trump mad man

how person go lose $54billon haba. I just need 0.1% of it.

This is why if you are rich, Acquire power at all costs! Whether directly or indirectly. Lobby senators and representatives if you must, Bribe your way up to the top or risk letting one dumbo who doesn't even know how he became president to come fûck you up. Money is power only when you use it right.

Bill gate should definitely be back to no.1 after this.

Same as Bill Gates

Wow





Meanwhile visit the website in my signature to keep up with your favourite Celebrities.

Trump is so so full of lies he lies through lies..I actually thought amazon was trully ripping off usps as Trump said until I read about it well and knew the truth..

Trump is afraid the Washington post owned by Jeff bozos that keeps on bursting his lies would eventually run him down that is why he keeps on coming for Jeff and Amazon..

He is a stupid individual that will soon meet his Waterloo..The Mueller investigation is closing in on him and he is getting worked up..

Emowolu

More than the national budgets of many African countries!