Why Amazon Stock Is Slipping Today
Amazon (NASDAQ: AMZN) stock is trending lower in Tuesday's trading in conjunction with bearish momentum for the broader market. The company's share price was down 0.3% as of 3:30 p.m. ET amid a 0.2% decline for the S 500 index and a 0.9% pullback for the Nasdaq Composite. The tech-giant's stock had been down as much as 4% earlier in the day's trading.
Amazon's valuation is heading lower today as tariffs and other catalysts are adding to ongoing macroeconomic risk factors. The company's share price is also being pressured by investor anxiety ahead of Nvidia's fourth-quarter report tomorrow.
Investors have had a lot to consider on the macroeconomic front lately, and recent data and developments have broadly caused the market to shift in a more cautious direction. Last week saw a series of inflation indicators arrive with worse-than-anticipated results, and news that the Trump administration intends to stick with plans to introduce new tariffs on China and Mexico is adding to worries over inflationary pressures.
Source Fool.com
