Amazon's Market Value Collapsed by more than $ 53 Billion over Rumours

The market capitalization of the online giant Amazon dropped by more than $ 53 billion or 7.4 percent during Wall Street trading on Wednesday after reports that US President Donald Trump has talked about changes in the company's tax regime, because according to him the company is threatening family businesses, the BBC said.

The information was distributed earlier today by the electronic edition Axios. Amazon representatives were not available to comment. Shares of the company are cheaper by nearly 5%.

"The Capitol wants the blood of Facebook, but President Trump is not interested, instead, the technology giant Trump wants to pursue is Amazon," the site said, citing five sources. "He's obsessed with Amazon," says one of the sources. There are no real changes to US policy towards Amazon, but the Trump administration is always looking for different options, a White House official said.

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