Amazon’s Bezos Pushes Tech Stocks Down With His Own on Spending
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Amazon.com Inc.’s Jeff Bezos scared off investors across the technology landscape after announcing intentions to continue his spending spree.
Amazon shares fell almost 10 percent yesterday, leading an industrywide plunge that pushed Facebook Inc., Twitter Inc., Netflix Inc. and LinkedIn Corp. each down more than 5 percent. They all gained at least 59 percent in 2013, double the increase in the Standard & Poor’s 500 Index.