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.

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