Why Amazon Stock Is Sinking Today
Amazon (NASDAQ: AMZN) stock is heading lower in Monday's trading. The tech giant's share price was down 2.2% at 1:30 p.m. ET amid a decline of 0.5% for the S 500 index and a 1.3% decline for the Nasdaq Composite index. The stock had dipped as much as 4.2% earlier in the day.
Amazon is falling today as investors sell out of stocks in response to concerns about the impact of new tariffs set to go into effect on April 2. The company's share price is also under pressure due to a downward price-target revision from an analyst.
With comments made yesterday, President Trump dashed hopes that he might take a more moderate approach to reciprocal tariffs that are set to be introduced on Wednesday. Instead of offering lower import taxes for some countries or product categories, it looks like the administration will implement broad-based new tariffs on foreign-sourced goods.
Source Fool.com
