Evergrande default

Amazon cancels out 2021 gains as tech stocks slide

Amazon Falls, Will It Bounce Back?

The Amazon share price dipped on Monday cancelling out its gains for the current year.

Down by 2.81% at the time of writing, the online retailer’s stock value is up by a negligible 0.08% year-to-date.

Amazon is on for its sixth negative session in a row since August 2019. Out of the five biggest names on Wall Street, Amazon is the only one to be in the red for the year.

Today it wasn’t only Amazon struggling, as rising Treasury yields diverted investors’ attention away from tech stocks and towards other areas of the market.

Apple is down 2.81%, Microsoft fell 2.58%, Alphabet sank 3.19% and Facebook shedded 5.34%.

Despite their falls, sharp ones in some cases, all remain up on the year to varying degrees.

The 10-year Treasury yield remains below 1.5%, up from 1.3% in September, while US major tech stocks are diving.

Could it be a sign of things to come?

comments powered by HyperComments

Hot Tweets 🔥