How did Amazon lose $30 billion in one day ? - letsdiskuss
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Aditya Singla

Marketing Manager (Nestle) | Posted on | News-Current-Topics

How did Amazon lose $30 billion in one day ?


Manager at Amazon | Posted on

It seems like U.S. President Donald Trump is obsessed with the world's largest online retailer and wants to control its growing power. The market value of Amazon shares dipped by $30-billion in one day after the rumors that President Trump wants to break the company because it is becoming an obstacle into the businesses of his friends.

If rumors are to believed, Donald Trump is going to enforce anti-trust laws to curb Amazon powers. He believes that most retail stores out of business and soon Amazon will become a global monopoly. Amazon's stock, which fell as low as $1,386.17 on Wednesday, was last down 4.6 percent at $1,427.83. The shares have nearly quadrupled over the last three years.

It is not new, Trump even criticized Amazon over taxes and jobs in the past, without offering evidence. The president is urging the use of antitrust law to stop Amazon becoming a key player in the market would be unprecedented.