Why Amazon Shares Are Falling

Shares of several companies in the broader tech sector, including Amazon.com, Inc. AMZN, are trading lower amid market weakness as traders continue to digest Wednesday’s Fed rate hike announcement. A gain in treasury yields has weighed on technology and growth stocks.

The Federal Reserve last Wednesday raised its target fed funds rate by 0.5% on Wednesday to a new range of between 0.75% and 1.0%, its first rate hike of at least half a percentage point in more than 20 years.

See Also: Apple Said To Be Planning Instacart-Like Service And This Would Be The X Factor

Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators.

According to data from Benzinga Pro, Amazon has a 52-week high of $3,773.08 and a 52-week low of $2,216.07.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: MoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!