Amazon’s Market Value Plummets in Tech Sector Rout

Friday’s trading session delivered a severe blow to Amazon, as the e-commerce and cloud computing leader saw approximately $90 billion evaporate from its market capitalization. The dramatic single-day decline formed part of a broader technology sector sell-off that erased nearly $500 billion in combined value from industry giants including Meta, Nvidia, and Microsoft. Market participants are now questioning whether this represents a temporary setback or the beginning of a more sustained downturn.

The primary catalyst for the technology sector’s decline emerged from comments by Federal Reserve Chairman Jerome Powell, who indicated that the central bank would maintain its current interest rate policy rather than implementing anticipated cuts. This hawkish stance Read more...