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posted by martyb on Thursday March 29 2018, @08:59AM   Printer-friendly
from the Bile-hoe!-Cell-hi! dept.

Amazon sheds $53 billion in market value after report on Trump threat

Amazon.com Inc (AMZN.O) 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.

[...] 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.


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  • (Score: 1, Redundant) by realDonaldTrump on Thursday March 29 2018, @11:20AM (2 children)

    by realDonaldTrump (6614) on Thursday March 29 2018, @11:20AM (#659917) Homepage Journal

    Thank you for your support!

    Amazon is a no-tax monopoly. But Congress won't go after it. Because the Amazon Washington Post would do one of their lame hit pieces. I have respect for Jeff Bezos, but he bought The Washington Post to have political influence, and I gotta tell you, we have a different country than we used to have. He wants political influence so that Amazon will benefit from it. That's not right.

    Believe me, the United States Post Office should be charging MUCH MORE. People don't know this, but they give a very cheap rate to Amazon. And @VP [twitter.com] Pence says Google is much too big too!

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  • (Score: 0) by Anonymous Coward on Thursday March 29 2018, @11:33AM

    by Anonymous Coward on Thursday March 29 2018, @11:33AM (#659920)

    rdt Yeah, yeah, yeah.
    And in 10 minutes you will be spouting off on another tangent...probably that stupid wall.

    Support for mom and pop stores? Tell me another one, oh great developer who uses eminent domain to make way for your projects.

    Meanwhile Bezos is staying the course because he's focused on money/power and little else. Your administration will go right back to looking the other way.

  • (Score: 2) by DeathMonkey on Thursday March 29 2018, @07:35PM

    by DeathMonkey (1380) on Thursday March 29 2018, @07:35PM (#660156) Journal

    Amazon is a no-tax monopoly.

    Raise your hand if you pay sales tax on Amazon!

    /me raises hand.

    If you aren't raising your hand then you live in one of the 5 states that has no sales tax. [wikipedia.org]