Amazon's share price fell in after-hours trade this evening despite a third straight quarter of record profit, as its model of selling more of its own online merchandise took a hit in India, a key future growth market.
What's happening: Starting tomorrow, both Amazon and Walmart have to drop any merchandise sold by companies in which they have an equity stake or an exclusivity deal. The new Indian rules are meant to promote local businesses and prevent the kind of retail destruction that the two big U.S. retailers have wreaked elsewhere.