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Amazon Shares Fall After Trump Attack

Shares of Inc. (AMZN.O) fell by 6 percent on Monday after United States President, Donald Trump, said he was going to reign in the online tech giant. President Donald Trump attacked the online retailer on Twitter due to the pricing of its deliveries through the United States Postal Service and promised unspecified changes.

For a long time now, Trump has been quite vocal about his displeasure with Amazon and its delivery prices. Amazon’s misuse of the US postal service has triggered this level of unrest. Trump’s Tweet on Monday was not the only posted regarding the issue. Citing his growing annoyance against this particular tech giant, Trump said on Saturday he was if the post office “increased its parcel rates, Amazon’s shipping costs would rise by $ 2.6 billion.”

With Trump’s increasing aggression against Amazon, the shares of the company dropped down by 6 percent, wiping out nearly $ 45 billion from its market value. Last week, the company lost about $ 54 billion thanks to Trump. The postal service has also been posting losses mainly because of payments, more than $5 billion a year as mandated by Congress to pre fund the service’s future retirees’ healthcare.

Last week, Trump accused Amazon of not paying enough taxes, making the postal system lose money and putting small retailers out of business. This has raised serious concern for the Amazon investors and with these string of tweets along with Trump’s threats, is slowly starting to worry the investors. The shares are likely to fall down lower than the current amount in the coming weeks.

The post Amazon Shares Fall After Trump Attack appeared first on Startup Stories | Startup Stories India | Inspiration Stories | 2018 Best Motivational Stories.

This post first appeared on Startups Stories In India | Startup Business Ideas | Startup Stories, please read the originial post: here

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Amazon Shares Fall After Trump Attack


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