European Union regulators have designated Amazon Web Services (AWS) as a critical technology provider for the bloc's financial industry. This action, part of the Digital Operational Resilience Act (DORA), subjects AWS to direct supervision by EU financial authorities to ensure the resilience of financial services reliant on its cloud computing platform. An AWS spokesperson said the company has been preparing for this and will continue to engage with regulators. This development occurs as Amazon's stock has entered correction territory, erasing recent gains amidst a wider tech sell-off fueled by concerns over the costs and profitability of artificial intelligence investments. Separately, More Retail, an Amazon-backed Indian food and grocery chain, has reportedly hired banks to prepare for a potential $300 million initial public offering, seeking a valuation near $2.5 billion.