<p>Amazon shares fell sharply on Monday as President Trump continued to attack Jeff Bezos-owned online retailer over it use of US postal service.</p>

<p>Shares of Amazon went down 5.9 per cent at $1,362.48, wiping out nearly $45 billion from its market value.</p>

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<p dir="ltr" lang="en">Only fools, or worse, are saying that our money losing Post Office makes money with Amazon. THEY LOSE A FORTUNE, and this will be changed. Also, our fully tax paying retailers are closing stores all over the country...not a level playing field!</p>
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/980800783313702918?ref_src=twsrc%5Etfw">April 2, 2018</a></blockquote>
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<p>In a tweet last week, the US president had said that if&nbspUS&nbsppostal service "increased its parcel rates" it would mean Amazon’s shipping costs would rise "by $2.6 billion."</p>

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<p dir="ltr" lang="en">While we are on the subject, it is reported that the U.S. Post Office will lose $1.50 on average for each package it delivers for Amazon. That amounts to Billions of Dollars. The Failing N.Y. Times reports that “the size of the company’s lobbying staff has ballooned,” and that...</p>
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/980063581592047617?ref_src=twsrc%5Etfw">March 31, 2018</a></blockquote>
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<p>The revenue of US postal service has been declining for years. In November the postal service had reported a decline in annual revenue, hurt by a drop in first-class and marketing mail. However, the package delivery system had shown a marked uptick.</p>

<p>"We believe the US Postal Service (USPS) has gained share from Amazon which is helping the USPS stay afloat," Morgan Stanley analysts wrote.</p>

<p>"President Trump's comments are consistent with industry sources we have spoken to in the shipping industry, who often label Amazon's deal with the USPS as a sweetheart deal," DA Davidson analyst Tom Forte wrote in a note.</p>

<p>"An argument, however, could be made that the USPS was losing billions before it expanded its service offerings for Amazon and would, still, likely lose billions if Amazon discontinued its use of the USPS tomorrow," Forte said.</p>

<p>Amazon hasn't disclosed its payment structure with UPS and did not react on&nbspthe recent Trump tweets against the company.</p>

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Amazon hasn't disclosed its payment structure with UPS and did not react on the recent Trump tweets against the company.

Amazon shares fell sharply on Monday as President Trump continued to attack Jeff Bezos-owned online retailer over it use of US postal service. Shares of Amazon went down 5.9 per cent at $1,362.48, wiping out nearly $45 billion from its market value. Only fools, or worse, are saying that our money losing Post Office makes money with Amazon. THEY LOSE A FORTUNE, and this will be changed. Also, our fully tax paying retailers are closing stores all over the country...not a level playing field! — Donald J. Trump (@realDonaldTrump) April 2, 2018 × In a tweet last week, the US president had said that if&nbspUS&nbsppostal service "increased its parcel rates" it would mean Amazon’s shipping costs would rise "by $2.6 billion." While we are on the subject, it is reported that the U.S. Post Office will lose $1.50 on average for each package it delivers for Amazon. That amounts to Billions of Dollars. The Failing N.Y. Times reports that “the size of the company’s lobbying staff has ballooned,” and that... — Donald J. Trump (@realDonaldTrump) March 31, 2018 × The revenue of US postal service has been declining for years. In November the postal service had reported a decline in annual revenue, hurt by a drop in first-class and marketing mail. However, the package delivery system had shown a marked uptick. "We believe the US Postal Service (USPS) has gained share from Amazon which is helping the USPS stay afloat," Morgan Stanley analysts wrote. "President Trump's comments are consistent with industry sources we have spoken to in the shipping industry, who often label Amazon's deal with the USPS as a sweetheart deal," DA Davidson analyst Tom Forte wrote in a note. "An argument, however, could be made that the USPS was losing billions before it expanded its service offerings for Amazon and would, still, likely lose billions if Amazon discontinued its use of the USPS tomorrow," Forte said. Amazon hasn't disclosed its payment structure with UPS and did not react on&nbspthe recent Trump tweets against the company.

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Watch: Trump tweets wipe out billions in Amazon shares