Amazon's dropping as part of a broader tech sell-off

Markets Insider


Amazon shares are down more than 4% to an intraday low of $US1,448.64 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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