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Why Amazon Stock Lost 5% Today

Why Amazon Stock Lost 5% Today

Shares of Amazon (NASDAQ: AMZN) were falling today, as the tech giant followed the market's lead and pulled back in response to a better-than-expected jobs report. Since Amazon is a cyclical business , driven by consumer spending on e-commerce and businesses spending on cloud infrastructure, the company is sensitive to the macroeconomic climate. Coming into the jobs report, Amazon had already been showing signs of weakness.