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April 29, 2022 04:47 pm
Original Link: https://news.slashdot.org/story/22/04/29/1647223/amazons-biggest-drop-since-2014-caps-miserable-month-for-tech?utm_source=rss1.0mainlinkanon&utm_mediu
Amazon's Biggest Drop Since 2014 Caps Miserable Month for Tech
Amazon shares are tumbling on Friday, with the e-commerce company seeing its biggest intraday percentage drop since October 2011, after it gave an outlook that was seen as disappointing. From a report: Shares fell as much as 13%, taking them to their lowest since June 2020. The selloff erased more than $178 billion off the company's market valuation. Amazon shares are down more than 20% for the month, their biggest one-month percentage drop since December 2018. The slump represents the latest hit to Wall Street's biggest names, which have come under heavy pressure in April amid a tumultuous earnings season and concerns over Federal Reserve policy. The Nasdaq 100 Index has dropped 11% this month, erasing $1.75 trillion off the tech-heavy index's market capitalization.Read more of this story at Slashdot.
Original Link: https://news.slashdot.org/story/22/04/29/1647223/amazons-biggest-drop-since-2014-caps-miserable-month-for-tech?utm_source=rss1.0mainlinkanon&utm_mediu
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