Amazon loses over $50bn in market value

Shares in world's largest online retailer fell almost five percent, wiping more than $50bn off its market value, after reports US president wants to reign in its growing power.

    Shares in the online retailer Amazon have slumped, following reports that US President Donald Trump is looking to change the way the company is taxed.

    At one point stocks fell by as much as 7.4 percent, wiping more than $50bn from Amazon's market value.

    Al Jazeera's Scheherazade Gaffoor reports from Washington, DC.


    YOU MIGHT ALSO LIKE

    All Hail The Algorithm

    All Hail The Algorithm

    A five-part series exploring the impact of algorithms on our everyday lives.

    The priceless racism of the Duke of Edinburgh

    The priceless racism of the Duke of Edinburgh

    Prince Philip has done the world an extraordinary service by exposing the racist hypocrisy of "Western civilisation".

    China will determine the future of Venezuela

    China will determine the future of Venezuela

    There are a number of reasons why Beijing continues to back Maduro's government despite suffering financial losses.