Amazon's dropping as part of a broader tech sell-off
Apr 25, 2018, 00:32 IST
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- Amazon shares are diving as part of a broader tech sell-off on Tuesday.
- All three major US indices are down, after the US 10-year treasury yield hit 3%.
Amazon shares are down more than 4% to an intraday low of $1,448.64 a share Tuesday, as part of a broader tech sell-off.
Amazon isn't the only FANG stock to drop Tuesday. Facebook is down more than 3.5%, while Alphabet is down 5%, as its better-than-expected earnings results were outweighed by its soaring costs. Netflix is down more than 3.5%, meanwhile.
All three major US indices are down Tuesday, after the US 10-year treasury yield hit 3%, worrying investors about a noticeable uptick in inflation.
Amazon is up 22.88% on the year.
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