Amazon slides after Trump launches another attack at the e-commerce giant

Markets Insider
  • President Donald Trump fired off another Tweet bashing Amazon.
  • Amazon shares are sliding as a result.
  • Watch Amazon in real time.

Shares of Amazon are sliding after the latest attack from President Donald Trump, trading down 0.67% at $US1,362.

“I am right about Amazon costing the United States Post Office massive amounts of money for being their Delivery Boy,”Trump tweeted Tuesday morning. “Amazon should pay these costs (plus) and not have them bourne by the American Taxpayer. Many billions of dollars. P.O. leaders don’t have a clue (or do they?)!”

Trump’s tweet is the latest in a string of attacks from the president on the e-commerce giant. Amazon has seen almost $US30 billion of market cap wiped away since Trump began his multi-day assault on the company.

The president has tweeted about the company four times in the past week. The Twitter attacks come after a report from news website Axios said Trump is “obsessed” with the company and its CEO Jeff Bezos, who also owns the Washington Post. The Post often takes a critical tone towards the Trump administration, and Trump frequently claims it, among other outlets, is “fake news.”

Amazon shares are up 16% this year.

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