The Korea Times

Dow Jones falls amid Amazon concerns

- (UPI)

The Dow Jones Industrial Average fell more than 450 points Monday as tech stocks dropped and a potential trade war loomed over the market.

The Dow Jones was down 458.92 points or 1.9 percent at the end of trading after being down by up to 758.59 points earlier in the day.

The S&P 500 also declined 2.2 percent, with the tech sector falling 2.5 percent, and the Nasdaq composite dropped 2.7 percent with a decline in Amazon stock serving as a driving factor.

Amazon stock fell 5.2 percent Monday after President Donald Trump reiterated criticism that the company pays “little or no taxes to state and local government­s,” to use the U.S. Post Office.

The USPS charges Amazon and other bulk shippers a lower rate, CNN Money reported. Amazon also collects sales tax in every state that charges it, but doesn’t collect sales tax on purchases made from third-party vendors.

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