Shares in the US e-commerce behemoth Amazon dropped by nearly five percent, wiping over $30 billion from its market value, after reports that President Donald Trump wants to curb the firm’s growing power.
According to a report by the US news and information website Axios, Trump is planning to “go after” the world’s largest online retailer amid growing concerns that Amazon’s business is killing physical shopping malls and mom-and-pop retailers. “He’s obsessed with Amazon,” the media reported, citing one of five sources familiar with the issue. Continue reading “Amazon stock plunges after Trump pledges to “go after” Bezos’ online retail giant”