Mar 28, 2018 - Technology

Amazon shares tumble on fear of Trump

Expand chart

Data: Money.net; Chart: Axios Visuals

Amazon shares shed more than $31 billion of value following an Axios report this morning that President Trump has been talking about going after Amazon on taxes or anti-trust grounds.

Be smart: Amazon isn't alone in the pain, as Axios' Dan Primack notes the "so-called FANG stocks have had a terrible week, losing a combined $168.6 billion in market value over the past five trading days."

Facebook stock down 8.34%. $42.12 billion in lost market cap.
Amazon stock down 8.74%. $66.3 billion in lost market cap.
Netflix stock down 8.5%. $11.49 billion in lost market cap.
Google stock down 6.52%. $48.67 billion in lost market cap.

What they're saying: White House Press Secretary Sarah Sanders told reporters today that Trump is "always looking to create a level playing field for all businesses and this is no different."

Go deeper: The W.S.J. notes that Amazon and fellow tech stocks are running into the collision of political and economic forces.

Go deeper

Rebecca Falconer

Updated 27 mins ago - Politics & Policy

Where key GOP senators stand on replacing Ruth Bader Ginsburg

Senate Majority Leader Mitch McConnell talks to reporters on Capitol Hill last Thursday. Photo: Chip Somodevilla/Getty Images

With President Trump planning to nominate his third Supreme Court justice nominee this week, key Republican senators are indicating their stance on replacing the late Justice Ruth Bader Ginsburg with less than 50 days until Election Day.

The state of play: Senate Majority Leader Mitch McConnell (Ky.) has vowed that "Trump’s nominee will receive a vote on the floor of the United States Senate." Two GOP senators — Sen. Lisa Murkowski (R-Alaska) and Sen. Susan Collins (R-Maine) — have said they oppose holding a vote before the election, meaning that two more defections would force McConnell to delay until at least the lame-duck session of Congress.

Go deeper (2 min. read)

Axios

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 4 p.m. ET: 30,873,714 — Total deaths: 958,383— Total recoveries: 21,103,559 — Map.
U.S.: Total confirmed cases as of 4 p.m. ET: 6,788,343 — Total deaths: 199,421 — Total recoveries: 2,577,446 — Total tests: 94,211,463 — Map.
Politics: Testing czar on Trump's CDC contradictions: "Everybody is right" — Ex-FDA chief: Career scientists won't be "easily cowed" by political vaccine pressure
Education: What we overlooked in the switch to remote learning
Health: The dwindling chances of eliminating COVID-19.
World: England sets £10,000 fine for breaking self-isolation rules — The countries painting their pandemic recoveries green.

Go deeper (<1 min. read)

Alexi McCammond

3 hours ago - Politics & Policy

Biden to Senate GOP after RBG passing: "Please follow your conscience"

Joe Biden made a direct appeal to Senate Republicans in a speech addressing the passing of Supreme Court Justice Ruth Bader Ginsburg, urging them to "cool the flames that have been engulfing our country" by waiting to confirm her replacement until after the election.

The state of play: Senate Majority Leader Mitch McConnell said soon after the news of Ginsburg's death that President Trump's nominee would get a vote on the Senate floor.