Amazon-Whole Foods deal hammers grocery stores; Dow ticks up
June 16, 2017
NEW YORK (AP) — Amazon's $13.4 billion deal for Whole Foods sent grocery stores, big retailers, and food makers and distributors plunging Friday. Energy companies rose while other stocks were little changed.
It's rare for a single deal to have a big effect on the broader stock market, but Amazon's agreement to buy Whole Foods Market did. Investors wondered if Amazon will do to grocery stores and supermarkets what it's done to sellers of goods like clothing and office supplies: force them to make big changes or be supplanted.
Neil Saunders, managing director of the research firm Global Dat...