Retail, grocery stocks tank after Amazon buys Whole Foods

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Major U.S. indexes are slightly lower in early trading on Wall Street, but grocery stores and other retailers are plunging after Amazon said it would buy Whole Foods Market. (KGO-TV )

Major U.S. indexes are slightly lower in early trading on Wall Street, but grocery stores and other retailers are plunging after Amazon said it would buy Whole Foods Market.

Kroger dropped 14 percent early Friday, while Target sank 12 percent and United Natural Foods sank 20 percent.

Whole Foods' stock was halted. Amazon's rose 3 percent.

The Standard & Poor's 500 index fell 3 points, or 0.1 percent, to 2,429.

The Dow Jones industrial average gave up 16 points, or 0.1 percent, to 21,342. The Nasdaq composite gave up 19 points, or 0.3 percent, to 6,146.

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businessamazonwhole foodsbusinessu.s. & world
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