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Amazon-Whole Foods deal hammers grocery stocks; Dow ticks up to new high

Amazon-Whole Foods deal hammers grocery stocks; Dow ticks up to new high

Amazon's deal to buy Whole Foods Market sent grocery stores, big retailers, and food makers and distributors plunging Friday. Energy companies rose. Other stocks were little changed.

It's rare for a single deal to have a big effect on the broader stock market, but the Amazon-Whole Foods deal did. Investors wondered if Amazon will do to grocery stores and supermarkets what it's done to sellers of goods such as clothing and office supplies: force them to make big changes or be supplanted.

Neil Saunders, managing director of the research firm Global Data Retail, said Amazon is likely to push supermarkets and grocery stores to slash prices, which will affect the companies that...

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