Amazon has suffered a loss of around $53bn in market value
Amazon’s stocks have plunged and the e-commerce giant has suffered a loss of around $53bn in market value after US President Donald Trump blasted it with a list of complaints.
This comes a day after news website Axios reported that that Trump was “obsessed” with figuring out a way to decrease Amazon’s influence through anti-trust law.
“I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!” Trump had tweeted.
I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!
— Donald J. Trump (@realDonaldTrump) March 29, 2018
Amazon’s owner, Jeff Bezos, also owns the Washington Post, which won a Pulitzer Prize in 2017 for its investigation of Trump’s donations to charities. The probe found that many of Trump’s philanthropic claims were exaggerated and often were not charitable donations.
Trump has repeatedly derided the media organization as “phony” and “fake news.”
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