Amazon sees biggest point drop ever

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Amazon is taking advantage of laws, regulations: Raj Shah

White House Principal Deputy Press Secretary Raj Shah on President Trump taking on Amazon.

Shares of Amazon tumbled on Monday as President Donald Trump renewed his attacks on the e-commerce giant.

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The stock, in its largest, single day point-loss ever, closed down more than 5% after Trump said via Twitter that the company was responsible for retailers shutting down across the country.

Monday’s movement comes after a tumultuous week for shares of the tech giant. An Axios report indicated that the president was considering changing its tax treatment and targeting the company for anti-competitive practices.

Over the past five days, shares of Amazon are more than 10% lower, while over the past month they are down 7%.

The White House said last week that while there were no specific policy proposals on the table regarding Amazon at the time, it was always considering ways to even out the playing field for American businesses.

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