Thanks to FDI Rule, Amazon, Walmart lose over $50 billion

Amazon’s shares fell by 5.38% to $1626.23, losing $45.22 billion in market capitalisation. Walmart’s share price fell by 2.06% to $93.86 on NYSE, losing $5.7 billion in market capitalisation.

At the close of trade on Friday in the US, Amazon was valued at $795.18 billion while Walmart was at $272.69 billion.

Both companies’ India foray is partly responsible for the share price fall.
[Source: (ET)]