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.
