Today’s Amazon discount: Grocery-chain stocks

ANALYSIS: Amazon’s proposed $13.7 billion purchase of Whole Foods Market caught stock market investors off guard. Their initial reaction — bidding up share prices of the two companies and selling off those of grocery chains — suggests a bleak future for an industry being reshaped by on-demand delivery.
Shares of Walmart were down 4.4 percent in mid-day trading after falling as much as 7 percent. Walmart, which has been trying to compete against Amazon by leveraging its retail s