The broader technology sector is trending lower on Friday amid COVID-19 concerns in China, the continued Russian-Ukraine conflict, and Amazon’s AMZN poor quarterly earnings report are pressuring the markets into the weekend.
$3.8 billion in losses in the first quarter caused Amazon’s stock to drop 14.05% over Friday’s trading session, making it the worst-performing day the stock has had since July 2006.
As the third-heaviest stock in the S&P 500, a drop in share prices will have ramifications for the entire sector. Among the stocks trading in tandem with Amazon include:
- Adobe Inc ADBE
- Applied Materials, Inc. AMAT
- Crowdstrike Holdings Inc CRWD
- Cisco Systems Inc CSCO
- Corning Incorporated GLW
- Samsara Inc IOT
- KLA Corp KLAC
- Shopify Inc SHOP
- Tenable Holdings Inc TENB
- Thoughtworks Holding Inc TWKS
- Workday Inc WDAY
- Wix.Com Ltd WIX
- Workiva Inc WK
- Sabre Corp SABR
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