Why Amazon Stock Is Sinking Today
Amazon (NASDAQ: AMZN) stock is retreating in Friday's trading. The company's share price was down 3.5% as of 3:10 p.m. ET amid a 1.7% decline for the S 500 (SNPINDEX: ^GSPC) and a 2.2% decline for the Nasdaq Composite (NASDAQINDEX: ^IXIC).
Amazon's valuation is moving lower today in conjunction with bearish macroeconomic data. With today's pullback, the company's share price is now down roughly 2% across this year's trading.
Investors are selling out of stocks today following a new round of macroeconomic data that paints a more challenging backdrop for equities.
Source Fool.com
