Shares of Amazon.com Inc. plunged Wednesday morning after a report that President Trump is "obsessed" with the e-commerce giant and wants to "go after" the company.
The LATimes reports that the website Axios reported Wednesday that Trump brings up Amazon when discussing tax policy and antitrust cases. The president reportedly hears from real estate friends that the Seattle-based online giant is destroying shopping malls, mom-and-pop stores and brick-and-mortar retailers — and he believes them.
According to an unnamed source that spoke to Trump, the president has "wondered aloud if there may be any way to go after Amazon with antitrust or competition law," Axios reported.
Amazon stock was down 6.4%, or $96.34, to $1,400.72 around 8:30 a.m. PDT, shaving off about $46.6 billion in market value.
Trump has repeatedly tweeted about Amazon over the last year. In August, he said that the company was "doing great damage to tax paying retailers. Towns, cities and states throughout the U.S. are being hurt - many jobs being lost!"
Trump's ire has also extended to the Washington Post, which is owned by Amazon Chief Executive Jeff Bezos. The president has frequently referred to the Post as the "Amazon Washington Post."
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