AMAZON’S Shocking Power Grab: Shopify Deal Rocks Wall Street After Bank Collapse
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— Amazon just announced it will buy Shopify for $85 billion. This move could make Amazon even stronger in online shopping and cloud services. Stocks for both companies shot up after the news came out. Regulators are now expected to take a hard look at the deal because of its massive size and impact on competition.
At the same time, First National Financial, a big Wall Street bank, went bankrupt after losing money in the latest crypto crash. The bank’s failure rattled financial markets and caused banking stocks to fall fast. Investors are now worried that more trouble could be coming as crypto keeps shaking up regular banks.
These two events signal major changes for tech giants and America’s financial system. Many Americans will be watching closely as government officials decide what comes next.
How regulators handle this Amazon-Shopify deal — and the fallout from another big bank collapse — could shape our country’s economic future for years to come.
