Amazon’s shares plunged 13% last week as a larger market sell-off weighed on tech sectors.
Amazon hasn’t had a bad week since Dec. 21, 2018, when the stock plunged 13.4%.
Markets fell Friday as investors worried about rising interest rates and uneven profit reports.
The Nasdaq Composite fell 1.9 percent and the S&P 500 1.3 percent. The Dow fell 1.3 percent.
Investors fear the Fed may have to raise rates many times this year to combat excessive inflation. Netflix’s poor subscriber outlook on Thursday drove its shares down nearly 22% on Friday.
Netflix is the first major internet business to report this season. Apple, Microsoft, and Tesla are all due to report next week. Amazon is expected to release fourth-quarter numbers on Feb. 3.
