Amazon.com Inc. has lost its hold as the third-most valuable U.S. company by market capitalization, as the recent selloff in the e-commerce giant’s stock has knocked it below Microsoft . Amazon’s stock fell 1.4% in midday trade, with its market cap falling to $684.3 billion from $693.4 billion, while Microsoft’s stock rose 0.6% to lift its market cap to $692.4 billion from $688.3 billion. Amazon’s stock has tumbled 9.2% amid a three-session losing streak, weighed by President Trump’s criticism of the company. That selloff has shaved $69.3 billion off Amazon’s market cap. Over the same time, Microsoft’s market cap has lost $29.6 billion. The companies are still behind second-place Alphabet Inc. at $717.9 billion and Apple Inc. at $860.5 billion. Amazon shares have still climbed 21% over the past three months while Microsoft’s stock has gained 5.1% and the Dow Jones Industrial Average has lost 2.6%.
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