Amazon, Flipkart's Quick Commerce Push Hits Blinkit, Swiggy Shares

Amazon and Flipkart's aggressive expansion into 10-minute deliveries is shaking up quick commerce. Blinkit's parent Eternal saw shares drop 28%, and Swiggy 47% from peaks, losing over $15 billion in value. Investors fear a prolonged price war as dark stores multiply. Zepto's IPO prospects also dim amid intensifying competition from deep-pocketed rivals like Reliance.