Amazon shares dropped 2.41% to $236.75 as the market reacted to persistent inflation data, amplifying investor concerns over growth valuations in a high-rate environment.
- The 2.41% decline significantly outpaced the tech-heavy Nasdaq Composite's 1.17% drop.
- The sell-off follows reports that Amazon is pressuring suppliers for cost cuts ahead of a Supreme Court ruling on tariffs, signaling underlying cost pressures in the e-commerce segment.