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'How can I f*** with him?' Trump wants to escalate his personal war against Amazon and Jeff Bezos after his Twitter tirades against the world's richest man caused stock to fall by 45 BILLION
Jeff Bezos has published a shocking letter that was sent to him by a National Enquirer editor threatening to publish nude photos of the Amazon billionaire if he did not back off claims that the decision to out the billionaire's affair with Lauren Sanchez was politically motivated.
In the email, American Media's Chief Content Officer Dylan Howard comments that 'with The Washington Post poised to publish unsubstantiated rumors of The National Enquirer's initial report, I wanted to describe to you the photos obtained during our newsgathering.'
He then goes on to claim that the Enquirer has a 'd*** pic' sent by Bezos and a photo that shows Sanchez's 'nether region.'
After listing the images, Howard writes: 'It would give no editor pleasure to send this email. I hope common sense can prevail - and quickly.'
Bezos did respond quickly, by posting that letter and two others online.
The first email was sent on February 5, a proposed agreement was sent on February 6 and a third email was sent at an unknown date in response to a February 4 note sent by Bezos' lawyer Marty Singer to Howard.
These emails were sent just a few months after American Media agreed to fully cooperate with a Department of Justice investigation involving President Trump under penalty of law.
'Well, that got my attention. But not in the way they likely hoped. Any personal embarrassment AMI could cause me takes a back seat because there's a much more important matter involved here,' explained Bezos in a post on Medium.
'If in my position I can't stand up to this kind of extortion, how many people can?'
Expose exposed: Jeff Bezos has published emails sent to him by an editor at the National Enquirer in which he is told nude photos will be published of him and Lauren Sanchez (Sanchez and Bezos with her estranged husband Patrick Whitesell in 2016)
Something unusual happened to me yesterday. Actually, for me it wasn’t just unusual — it was a first. I was made an offer I couldn’t refuse. Or at least that’s what the top people at the National Enquirer thought. I’m glad they thought that, because it emboldened them to put it all in writing. Rather than capitulate to extortion and blackmail, I’ve decided to publish exactly what they sent me, despite the personal cost and embarrassment they threaten.
AMI, the owner of the National Enquirer, led by David Pecker, recently entered into an immunity deal with the Department of Justice related to their role in the so-called “Catch and Kill” process on behalf of President Trump and his election campaign. Mr. Pecker and his company have also been investigated for various actions they’ve taken on behalf of the Saudi Government.
And sometimes Mr. Pecker mixes it all together:
“After Mr. Trump became president, he rewarded Mr. Pecker’s loyalty with a White House dinner to which the media executive brought a guest with important ties to the royals in Saudi Arabia. At the time, Mr. Pecker was pursuing business there while also hunting for financing for acquisitions…”
Federal investigators and legitimate media have of course suspected and proved that Mr. Pecker has used the Enquirer and AMI for political reasons. And yet AMI keeps claiming otherwise:
“American Media emphatically rejects any assertion that its reporting was instigated, dictated or influenced in any manner by external forces, political or otherwise.”
Of course, legitimate media have been challenging that assertion for a long time.
I didn’t know much about most of that a few weeks ago when intimate texts messages from me were published in the National Enquirer. I engaged investigators to learn how those texts were obtained, and to determine the motives for the many unusual actions taken by the Enquirer. As it turns out, there are now several independent investigations looking into this matter.
To lead my investigation, I retained Gavin de Becker. I’ve known Mr. de Becker for twenty years, his expertise in this arena is excellent, and he’s one of the smartest and most capable leaders I know. I asked him to prioritize protecting my time since I have other things I prefer to work on and to proceed with whatever budget he needed to pursue the facts in this matter.
Here’s a piece of context: My ownership of the Washington Post is a complexifier for me. It’s unavoidable that certain powerful people who experience Washington Post news coverage will wrongly conclude I am their enemy.
President Trump is one of those people, obvious by his many tweets. Also, The Post’s essential and unrelenting coverage of the murder of its columnist Jamal Khashoggi is undoubtedly unpopular in certain circles.
(Even though The Post is a complexifier for me, I do not at all regret my investment. The Post is a critical institution with a critical mission. My stewardship of The Post and my support of its mission, which will remain unswerving, is something I will be most proud of when I’m 90 and reviewing my life, if I’m lucky enough to live that long, regardless of any complexities it creates for me.)
Back to the story: Several days ago, an AMI leader advised us that Mr. Pecker is “apoplectic” about our investigation. For reasons still to be better understood, the Saudi angle seems to hit a particularly sensitive nerve.
A few days after hearing about Mr. Pecker’s apoplexy, we were approached, verbally at first, with an offer. They said they had more of my text messages and photos that they would publish if we didn’t stop our investigation.
My lawyers argued that AMI has no right to publish photos since any person holds the copyright to their own photos, and since the photos in themselves don’t add anything newsworthy.
AMI’s claim of newsworthiness is that the photos are necessary to show Amazon shareholders that my business judgment is terrible. I founded Amazon in my garage 24 years ago, and drove all the packages to the post office myself. Today, Amazon employs more than 600,000 people, just finished its most profitable year ever, even while investing heavily in new initiatives, and it’s usually somewhere between the #1 and #5 most valuable company in the world. I will let those results speak for themselves.
OK, back to their threat to publish intimate photos of me. I guess we (me, my lawyers, and Gavin de Becker) didn’t react to the generalized threat with enough fear, so they sent this.
Well, that got my attention. But not in the way they likely hoped. Any personal embarrassment AMI could cause me takes a back seat because there’s a much more important matter involved here. If in my position I can’t stand up to this kind of extortion, how many people can? (On that point, numerous people have contacted our investigation team about their similar experiences with AMI, and how they needed to capitulate because, for example, their livelihoods were at stake.)
In the AMI letters I’m making public, you will see the precise details of their extortionate proposal: They will publish the personal photos unless Gavin de Becker and I make the specific false public statement to the press that we “have no knowledge or basis for suggesting that AMI’s coverage was politically motivated or influenced by political forces.”
If we do not agree to affirmatively publicize that specific lie, they say they’ll publish the photos, and quickly. And there’s an associated threat: They’ll keep the photos on hand and publish them in the future if we ever deviate from that lie.
Be assured, no real journalists ever propose anything like what is happening here: I will not report embarrassing information about you if you do X for me. And if you don’t do X quickly, I will report the embarrassing information.
Nothing I might write here could tell the National Enquirer story as eloquently as their own words below.
These communications cement AMI’s long-earned reputation for weaponizing journalistic privileges, hiding behind important protections, and ignoring the tenets and purpose of true journalism. Of course I don’t want personal photos published, but I also won’t participate in their well-known practice of blackmail, political favors, political attacks, and corruption. I prefer to stand up, roll this log over, and see what crawls out.
Jeff Bezos says tabloid tried to blackmail him over 'intimate photos'
The images that the Enquirer has obtained, according to Howard, include:
'These communications cement AMI's long-earned reputation for weaponizing journalistic privileges, hiding behind important protections, and ignoring the tenets and purpose of true journalism,' wrote Bezos.
'Of course I don't want personal photos published, but I also won't participate in their well-known practice of blackmail, political favors, political attacks, and corruption. I prefer to stand up, roll this log over, and see what crawls out.'
In a subsequent email, an attorney for American Media outlines a proposed agreement, which was also published by Bezos.
The terms include:
The National Enquirer's cover story on Bezos' divorce and relationship with Sanchez that led to his investigation
Jon Fine, the lawyer who wrote the terms of the deal, worked under Bezos at Amazon for nine years according to his LinkedIn page.
He was employed as a lawyer, director and vice president at Amazon between 2006 and 2015, he writes on his online profile.
The third and final email shared by Bezos was far more clear about the deal.
'As I advised previously, we stand by the legality of our newsgathering and reporting on this matter of public interest and concern. Moreover, American Media is undeterred from continuing its reporting on a story that is unambiguously in the public interest — a position Mr. Bezos clearly appreciates as reflected in Boies Schiller January 9 letter to American Media stating that your client 'does not intend to discourage reporting about him' and 'supports journalistic efforts,' read the email.
'That said, if your client agrees to cease and desist such defamatory behavior, we are willing to engage in constructive conversations regarding the texts and photos which we have in our possession. Dylan Howard stands ready to discuss the matter at your convenience.'
Bezos had hired Gavin de Becker to look into who leaked the images and text messages he and Sanchez had exchanged over the past year.
De Becker allegedly suspects that a 'government entity' could have gotten hold of the messages.
Washington Post reporter Manuel Roig-Franzia said live on air that de Becker had given 'interesting insights into the backstages of this whole drama'.
'He does not believe that Jeff Bezos's phone was hacked - he thinks it's possible that a government entity might have gotten a hold of his text messages,' he said.
Bezos published the contents of the email he received on Tuesday afternoon
On January 13, Trump celebrated The National Enquirer's story exposing Bezos' affair
It came after the world's richest man announced he was splitting with wife MacKenzie
In interviews with both The Daily Beast and The Washington Post, de Becker stated his belief that Sanchez's brother Michael could have leaked the information.
Michael is pro-Trump, friendly with both Roger Stone and Carter Page and learned about his sister's affair in April of last year.
Those facts came not from de Becker, but Michael himself in his own interview with the Post.
It was not who leaked the news, but why it was leaked that seemed to be of concern to David Pecker and American media, claims Bezos.
'Several days ago, an AMI leader advised us that Mr. Pecker is 'apoplectic' about our investigation. For reasons still to be better understood, the Saudi angle seems to hit a particularly sensitive nerve,' explained Bezos.
'A few days after hearing about Mr. Pecker's apoplexy, we were approached, verbally at first, with an offer. They said they had more of my text messages and photos that they would publish if we didn't stop our investigation.'
Last night Lauren Sanchez's estranged husband, Patrick Whitesell, was seen on a date in West Hollywood with model Keira Alexa as the row erupted.
Out and about: Whitesell, left, speaks on his cell phone as he leaves the bar in California joined by model Keira Alexa, right, who carried her red handbag and a coat with her
From: Howard, Dylan [email@example.com] (Chief Content Officer, AMI) Sent: Tuesday, February 5, 2019 3:33 PM To: Martin Singer (litigation counsel for Mr. de Becker) Subject:. Jeff Bezos & Ms. Lauren Sanchez Photos
CONFIDENTIAL & NOT FOR DISTRIBIUTION
I am leaving the office for the night. I will be available on my cell — 917 XXX-XXXX.
However, in the interests of expediating this situation, and with The Washington Post poised to publish unsubstantiated rumors of The National Enquirer’s initial report, I wanted to describe to you the photos obtained during our newsgathering.
In addition to the “below the belt selfie — otherwise colloquially known as a ‘d*c* pick’” — The Enquirer obtained a further nine images. These include:
· Mr. Bezos face selfie at what appears to be a business meeting.
· Ms. Sanchez response — a photograph of her smoking a cigar in what appears to be a simulated oral sex scene.
· A shirtless Mr. Bezos holding his phone in his left hand — while wearing his wedding ring. He’s wearing either tight black cargo pants or shorts — and his semi-erect manhood is penetrating the zipper of said garment.
· A full-length body selfie of Mr. Bezos wearing just a pair of tight black boxer-briefs or trunks, with his phone in his left hand — while wearing his wedding ring.
· A selfie of Mr. Bezos fully clothed.
· A full-length scantily-clad body shot with short trunks.
· A naked selfie in a bathroom — while wearing his wedding ring. Mr. Bezos is wearing nothing but a white towel — and the top of his pubic region can be seen.
· Ms. Sanchez wearing a plunging red neckline dress revealing her cleavage and a glimpse of her nether region.
· Ms. Sanchez wearing a two-piece red bikini with gold detail dress revealing her cleavage.
It would give no editor pleasure to send this email. I hope common sense can prevail — and quickly.
From: Fine, Jon [firstname.lastname@example.org] (Deputy General Counsel, AMI)Sent: Wednesday, February 6, 2019 5:57 PMTo: Martin Singer (Mr de Becker’s attorney)Subject: Re: EXTERNAL* RE: Bezos et al / American Media et al
Here are our proposed terms:
1. A full and complete mutual release of all claims that American Media, on the one hand, and Jeff Bezos and Gavin de Becker (the “Bezos Parties”), on the other, may have against each other.
2. A public, mutually-agreed upon acknowledgment from the Bezos Parties, released through a mutually-agreeable news outlet, affirming that they have no knowledge or basis for suggesting that AM’s coverage was politically motivated or influenced by political forces, and an agreement that they will cease referring to such a possibility.
3. AM agrees not to publish, distribute, share, or describe unpublished texts and photos (the “Unpublished Materials”).
4. AM affirms that it undertook no electronic eavesdropping in connection with its reporting and has no knowledge of such conduct.
5. The agreement is completely confidential.
6. In the case of a breach of the agreement by one or more of the Bezos Parties, AM is released from its obligations under the agreement, and may publish the Unpublished Materials.
7. Any other disputes arising out of this agreement shall first be submitted to JAMS mediation in California
Deputy General Counsel, Media
American Media, LLC
Jon P. Fine
Deputy General Counsel, Media
O: (212) 743–6513 C: (347) 920–6541
February 5, 2019
Martin D. Singer
Laveley & Singer
Re: Jeff Bezos / American Media, LLC, et al.
Dear Mr. Singer:
I write in response to your February 4, 2019, letter to Dylan Howard, and to address serious concerns we have regarding the continuing defamatory activities of your client and his representatives regarding American Media’s motivations in its recent reporting about your client.
As a primary matter, please be advised that our newsgathering and reporting on matters involving your client, including any use of your client’s “private photographs,” has been, and will continue to be, consistent with applicable laws. As you know, “the fair use of a copyrighted work, including such use by reproduction in copies . . . for purposes such as criticism, comment, news reporting . . . is not an infringement of copyright.” 17 USC Sec. 107. With millions of Americans having a vested interest in the success of Amazon, of which your client remains founder, chairman, CEO, and president, an exploration of Mr. Bezos’ judgment as reflected by his texts and photos is indeed newsworthy and in the public interest.
Beyond the copyright issues you raise, we also find it necessary to address various unsubstantiated defamatory statements and scurrilous rumors attributed to your client’s representatives in the press suggesting that “strong leads point to political motives”1 in the publication of The National Enquirer story. Indeed, you yourself declared the “politically motivated underpinnings” of our reporting to be “self-evident” in your correspondence on Mr. de Becker’s behalf to Mr. Howard dated January 31, 2019.
Once again, as I advised you in my February 1 response to your January 31 correspondence, American Media emphatically rejects any assertion that its reporting was instigated, dictated or influenced in any manner by external forces, political or otherwise. Simply put, this was and is a news story.
Yet, it is our understanding that your client’s representatives, including the Washington Post, continue to pursue and to disseminate these false and spurious allegations in a manner that is injurious to American Media and its executives.
Accordingly, we hereby demand that you cease and desist such defamatory conduct immediately. Any further dissemination of these false, vicious, speculative and unsubstantiated statements is done at your client’s peril.Absent the immediate cessation of the defamatory conduct, we will have no choice but to pursue all remedies available under applicable law.
As I advised previously, we stand by the legality of our newsgathering and reporting on this matter of public interest and concern. Moreover, American Media is undeterred from continuing its reporting on a story that is unambiguously in the public interest — a position Mr. Bezos clearly appreciates as reflected in Boies Schiller January 9 letter to American Media stating that your client “does not intend to discourage reporting about him” and “supports journalistic efforts.”
That said, if your client agrees to cease and desist such defamatory behavior, we are willing to engage in constructive conversations regarding the texts and photos which we have in our possession. Dylan Howard stands ready to discuss the matter at your convenience.
All other rights, claims, counterclaims and defenses are specifically reserved and not waived.
Pecker's ties to President Trump and Saudi Arabia were detailed in an March 2018 report in The New York Times.
It all began with Pecker being introduced to Kacy Grine, a French businessman with strong ties to Saudi Arabia.
More specifically, according to the report, Grine 'acts as an intermediary between Saudi Crown Prince Mohammed bin Salman and Western businesses.'
That introduction was orchestrated by Ari Emanuel reported the Times.
That was a year before the affair between Bezos and Sanchez began, but it should be noted that Emanuel's business partner is Sanchez's estranged husband Patrick Whitesell.
Pecker and Grine reportedly discussed the business landscape in the Middle East, and soon the publisher began making investments in the region.
The two men grew close, and when Pecker was invited to see his friend in the White House in July of 2017 he brought along Grine as his guest.
After meeting with the president and his son-in-law Jared Kushner, the group went to dinner according to the Times.
News of this meeting made its way back to Saudi Arabia, and Pecker was soon viewed as a businessman with an enormous amount of pull and power thanks to his ties to the current administration.
In September of that year, Pecker was in Saudi Arabia meeting with the Crown Prince.
That fact was ascertained thanks to a email exchange he had with Harvey Weinstein about purchasing Rolling Stone, a week before the disgraced mogul was outed as a sexual predator by the Times and New Yorker.
And in January, Pecker reportedly sought out Saudi investments in his attempt to purchase Time magazine per two sources.
That acquisition has always been a goal of Pecker's, and in 2013 Trump tweeted: 'David Pecker would be a brilliant choice as CEO of TIME Magazine — nobody could bring it back like David!'
American Media even published a glossy magazine promoting the country that sold for $13.99 and was 100 pages long with no advertisements called A New Kingdom.
The Associated Press later reported that the magazine 'was quietly shared with officials at the Saudi Embassy in Washington almost three weeks before its publication.'
That magazine made no mention of the human right violations in Saudi Arabia, which have been most closely covered and detailed by the Bezos-owned Washington Post.
Bezos has hired Gavin de Becker to look into who leaked the images and text messages he and Sanchez had exchanged over the past year
That coverage has amplified considerably ever since the murder of Saudi dissident Jamal Khashoggi, who was a columnist for the Post.
Khashoggi was murdered at the Saudi consulate in Istanbul on October 2 while trying to obtain paperwork for his upcoming marriage to a Turkish woman.
An investigation that was carried out by Turkish officials concluded that Khashoggi was killed by a team of 15 Saudis at the kingdom's diplomatic mission.
Saudi officials denied these reports for weeks, but after international outcry declared that the murder was the result of a 'rogue' operation.
At the same time, officials in Riyadh denied allegations that Crown Prince Mohammed bin Salman was involved in any way with the murder.
The New York Times reported on Thursday however that in a wire intercepted by America intelligence officials in 2017, the Crown Prince told an aide he would use 'a bullet' on the journalist if he did not return to the US and stop reporting on the country's violations of human rights.
US Intelligence believes that the Crown Prince ordered the murder, as do experts with the United Nations and a majority of both Republican and Democratic lawmakers in Washington DC.
President Trump meanwhile has declared very publicly that he stands by the Crown Prince.
Ronan Farrow claimed National Enquirer's parent company AMI also sent him threatening emails in a bid to block his reporting
Ronan Farrow claimed The National Enquirer's parent company AMI also sent him threatening emails in a bid to block his reporting.
The journalist claimed that the company Jeff Bezos has accused of blackmail sent him and 'one other prominent journalist' instructions to 'stop digging or we'll ruin you.'
'I and at least one other prominent journalist involved in breaking stories about the National Enquirer's arrangement with Trump fielded similar 'stop digging or we'll ruin you' blackmail efforts from AMI,' Farrow said in the Thursday Tweet. '(I did not engage as I don't cut deals with subjects of ongoing reporting.)'
Farrow has written stories on the Enquirer for The New Yorker, including claims AMI's owner David Pecker would kill stories that were damaging to Trump.
In another story, he said Pecker ordered reporters to stop looking into claims by a former Trump Tower doorman that the president had fathered a love child in the 1980s. No evidence has ever been found that proves the allegations.
Farrow's claim came just a few hours after Amazon.com Inc Chief Executive Jeff Bezos posted a blog on Medium and provided emails from National Enquirer's parent company American Media Inc (AMI) that suggest they were trying to blackmail him with the threat of publishing 'intimate photos.'
President Donald Trump is 'obsessed' with Amazon owner Jeff Bezos and is plotting ways to 'f***' with his company, sources in the White House have claimed.
The claims come after Trump's repeated Twitter attacks against the internet giant contributed to a 5.9 per cent collapse in its share price, wiping about $45 billion from its market value yesterday.
The president has said the firm is costing the US Postal Service a 'fortune' and accused it of failing to pay its fair share in tax.
The claims come after Trump's repeated Twitter attacks on the internet giant contributed to a 5.9 per cent collapse in its share price, wiping about $45 billion from its market value
Trump reportedly wants to increase delivery costs for Amazon, a move he previously wished to make before being dissuaded by outgoing economic adviser Gary Cohn
President Donald Trump hit out at Amazon on Thursday morning before normal trading hours
According to one source who spoke to Vanity Fair, Trump is 'off the hook on this one,' adding: 'It's war.'
Another explained: 'He gets obsessed with something, and now he's obsessed with Bezos. Trump is like, how can I f*** with him?'
Trump wants to increase delivery costs for Amazon, a move he previously wished to make before being dissuaded by outgoing economic adviser Gary Cohn.
A Republican close to the president said: 'He really wants the Post Office deal renegotiated. He thinks Amazon's getting a huge f****** deal on shipping.'
Another plan of attack the president could put into action is the cancellation of a computing contract Amazon has with the Pentagon.
He might also push prosecutors in Republican states to investigate Amazon's business practices.
Shares of Amazon.com Inc (AMZN.O) fell 5.9 per cent yesterday after Trump again attacked the online retailer over the pricing of its deliveries through the United States Postal Service and promised unspecified changes.
'Only fools, or worse, are saying that our money losing Post Office makes money with Amazon,' Trump tweeted.
'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!'
Shares of the company fell to $1,362.48.
According to one source who spoke to Vanity Fair , Trump is 'off the hook on this one,' adding: 'It's war'
Trump has been vocal about his opposition to Amazon's use of the postal service and Monday's tweet adds to investor worries that the company could see more regulation.
Amazon did not immediately respond to requests for a comment.
On Saturday, Trump tweeted that if the post office 'increased its parcel rates, Amazon's shipping costs would rise by $2.6 billion.'
The U.S. Postal Service (USPS) in November reported a decline in annual revenue, hurt by a drop in first-class and marketing mail, offset partly by an increase in package delivery.
The postal service has also been posting losses mainly because of payments, more than $5 billion a year as mandated by Congress to prefund the service's future retirees' healthcare.
The passage of postal reform legislation could alleviate USPS's pension obligations, give it more pricing power and allow the agency to be more competitive, analysts said.
'We believe the U.S. Postal Service (USPS) has gained share from Amazon which is helping the USPS stay afloat,' Morgan Stanley analysts wrote.
Trump has been vocal about his opposition to Amazon's use of the postal service and Monday's tweet adds to investor worries that the company could see more regulation
Bezos is also the owner of The Washington Post, which Trump has labeled 'fake news' because of the stories it has done on him that he says are false representations
Details of Amazon's payments to the USPS are not publicly known, but some Wall Street analysts have estimated it pays the postal service roughly half what it would to United Parcel Service Inc (UPS.N) or FedEx Corp (FDX.N) to deliver a package.
'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.
Trump last Thursday accused Amazon of not paying enough tax, making the postal system lose money and putting small retailers out of business.
The markets suffered on Monday as a result of a widespread sell-off which saw the S&P 500 plunge to below its 200-day moving average after a gloomy morning start which was the worst second-quarter kick-off since the Great Depression.
The S&P 500 closed on Monday at 2581.882, eight points lower than the 2,589 average it has maintained for the last 200 days and reaching its third lowest close of 2018.
The sharp 2.2 percent decline is the worst since 2.5 percent decline 89 years ago and is a sign that more grief is in store, at least temporarily.
The S&P 500 fell below its 200 day moving average of 2,589 and closed at 2,581.88 on Monday in the latest sign of downturn for the US markets
The Dow was also down by almost 2 per cent. It closed at 23,644.19, its second lowest of the year
'We've broken it, and we're sitting below it, which shows real selling, and the longer we stay below, the more probability we at least test the Feb. 9 low at 2,530-ish,' Scott Redler, partner with T3Live.com, told CNBC.
Among the sectors which suffered the greatest on Monday was technology.
Amazon's NASDAQ share price fell by 5.21 per cent to $1,371.99, the lowest it has been since February 9 when there was widespread Wall Street disruption.
The latest decline followed an attack from President Trump on Twitter on Sunday.
Intel also suffered (-6.07 percent) and Facebook (-2.275 percent) is still a long drop from its pre-Cambridge Analytica scandal high.
The Dow was also down. It closed at 23,644.19, 1.9 percent lower than on Friday and its second lowest this year.
Amazon continued to plunge as it reeled from the latest attack by Trump who, sources say, is 'obsessed' with tanking the tech giant
The turn cannot be attributed to industry alone and is, according to experts, an American problem.
'If I look at the global markets, it's really just the U.S. falling apart.
'It feels to me it's a U.S.-concentrated thing, which makes me think it's not as much related to trade as it is to technology and maybe regulatory headaches for some businesses coming out of D.C,' Jeff Kleintop, chief global investment strategist with Charles Schwab, told CNBC.
His expertise correlates with Trump's latest proclamation to change the 'unlevel playing field' between tech giants and brick-and-mortar businesses.
On Sunday, the president tweeted: '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!'