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Why Amazon Stock Was Falling Today

Why Amazon Stock Was Falling Today

Shares of Amazon (NASDAQ: AMZN) were moving lower today as several news items seemed to combine to weigh on the stock. One analyst cut their profit estimates for the fourth quarter. First, Wells Fargo said in a note this morning that it expected pressure on Amazon's operating income in the key fourth quarter, forecasting $2 billion headwinds from 250,000 seasonal labor additions, competition from the new TikTok Shop, and higher diesel prices, which raise freight costs.