Shares of U.S. auto part retailers fell sharply on Monday following a report that Amazon.com Inc (NASDAQ: AMZN) had set its sights on the $50 billion do-it-yourself after-market auto parts business.
Shares of Autozone Inc (NYSE: AZO), which has a comparatively bigger exposure to the retail auto parts market, slumped as much as 5.1 percent to $730.99, posting their biggest intraday percentage loss in nearly one year.
Advance Auto Parts Inc’s shares (NYSE: AAP) fell 4.2 percent to $164.27, O’Reilly Automotive Inc (NASDAQ: ORLY) declined 4 percent to $263.13 and Genuine Parts Co (NYSE: GPC) lost 3.7 percent to $96.
