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Benzinga
Benzinga
Business
Henry Khederian

Why Amazon Shares Are Diving Today

Amazon Abercrombie Nasdaq e-commerce

Amazon.com, Inc. (NASDAQ:AMZN) shares are trading lower by 3.04% at $2,084.69. Shares of retail and e-commerce companies are trading lower In sympathy with Abercrombie, which fell following its first-quarter report amid increased freight costs. Retail earnings have also been largely negative in recent weeks amid supply chain issues.

Several companies in the broader technology space are also trading lower amid a continued selloff in stocks. The sector is also under pressure following Snap Inc’s (NYSE:SNAP) second-quarter warning.

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