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Amazon’s Biggest Drop Since 2006 Caps Miserable Month for Tech

  • The company’s $206 billion value loss is second only to Meta
  • Nasdaq 100 suffers biggest one-month drop since October 2008
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Amazon Projects Second-Quarter Loss as Inflation Bites
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Amazon.com Inc. shares collapsed on Friday, with a loss in market value that ranks as one of the worst in Wall Street history after it gave an outlook that was seen as disappointing.

The stock sank 14% in its biggest one-day drop since July 2006, with shares closing at their lowest level since June 2020. The selloff erased $206.2 billion off the company’s market valuation, a wipeout exceeded only by Meta Platforms, which shed $251.3 billion in market value after a disastrous report of its own in February.