Amazon.com Inc (NASDAQ:AMZN) is trading lower Monday amid continued overall market weakness as Fed rate hike concerns weigh on stocks.
The Federal Reserve is expected to start hiking interest rates and reducing the amount of bonds it buys each month. The Fed may also begin cutting the nearly $9 trillion in assets it's holding.
When minutes from the Fed's December meeting were released at the beginning of January, investors started fearing that all three of these situations could take place at the same time.
The meeting summary showed that Fed members are ready to start raising interest rates and tapering bond buying. The Fed also signaled that it's prepared to engage in conversations about reducing holdings of Treasurys and mortgage-backed securities.
Weakness in Netflix Inc (NASDAQ:NFLX) following the company's quarterly financial results, has also caused investor concern ahead of earnings season.
Amazon is set to announce its fourth-quarter financial results after the market closes on Feb. 3.
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AMZN Price Action: Amazon has traded as high as $3,773 over a 52-week period. It's making new 52-week lows during Monday's trading session.
The stock was down 4.89% at $2,713 at time of publication.
Photo: courtesy of Amazon.
