Shares of companies in the broader technology space, including Amazon.com, Inc. AMZN, are trading lower amid a rise in bond yields, which has weighed on growth stock valuations.
The 10-year Treasury yield hit an intraday high of 1.508% Monday morning before dipping to around the 1.496% level. The spike in the 10-year note Monday comes after the Federal Reserve in September spoke on winding down its ongoing asset purchasing program.
Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $482 billion in estimated physical/digital online gross merchandise volume, or GMV, in 2020.
Amazon has a 52-week high of $3,773.08 and a 52-week low of $2,881.00.
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