Amazon shares tumble on fear of Trump
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.