Amazon shares erased a pre-market gain of as much as 1.7% after Donald Trump's tweet advocating regulation for the online retailer
Washington: US President Donald Trump on Thursday said his concerns with Amazon.com Inc. predate his election, a day after a report that he’s “obsessed" with regulating it.
“I have stated my concerns with Amazon long before the Election," Trump tweeted. “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!"
Amazon shares erased a pre-market gain of as much as 1.7% after the tweet. Amazon didn’t immediately respond Thursday to requests to comment outside normal business hours.
Amazon’s market value plunged $53 billion Wednesday after Axios reported that Trump wants to impose further regulations on the company. White House press secretary Sarah Huckabee Sanders said later Wednesday that the administration isn’t considering any changes in policy directed at the company. Bloomberg