Amazon.com Inc. shares fell sharply on Monday, with the e‑commerce giant falling back into negative territory for the year, as a sustained rise in Treasury yields is hurting the earnings outlook for companies with high valuations.
The stock fell 2.9% in its sixth straight daily decline, the longest such streak since an eight-day drop that ended in August 2019. With the drop, the stock is now down 2.1% for 2021, making it the only one of Wall Street’s five largest names to be negative for the year.
The day’s weakness was widespread, as the rise in Treasury yields also pushed investors out of tech and other high-growth areas of the market.
https://finance.yahoo.com/news/amazon-turns-negative-2021-higher-144653874.html
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