NEW YORK, June 28 — Shares of pharmacy retailers were hammered early today as Amazon entered the market and as Wall Street stocks retreated amid worries over trade tensions.

About 15 minutes into trading, the Dow Jones Industrial Average was down 0.3 per cent at 24,037.74.

The broad-based S&P 500 slipped 0.1 per cent to 2,696.18, while the tech-rich Nasdaq Composite Index shed 0.1 per cent to 7,437.28.

Amazon announced it was acquiring online pharmacy PillPack for terms that were undisclosed, its biggest move yet into healthcare. Amazon shares rose 0.2 per cent.

But the move by Amazon pummelled pharmacy chains, with CVS Health diving 6.9 per cent and Rite Aid plunging 12.6 per cent.

Another big pharmacy chain, new Dow component Walgreens Boots Alliance, dropped 8.7 per cent. Walgreens Boots also reported mixed earnings, announcing a new US$10 billion share repurchase program but lower comparable store sales.

Trade war fears continued to weigh on sentiment. Yesterday, US stocks opened higher after the Trump administration backed off a plan to restrict Chinese investment in US companies but reversed course after a top Trump advisor warned additional tariffs could be imposed on Beijing. — AFP