Amazon: stock collapses on Wall Street

Amazon: stock collapses on Wall Street

Certainly not an easy period for the securities of tech companies, which continue to show negative trends on international stock exchanges. The day on Wall Street was characterized by numerous packages of the major companies, including Amazon and Meta. The e-commerce giant closed the third quarter with a revenue ceiling of $ 127.1 billion, slightly below the expected $ 127.46 billion.

The Republic reports that the net profit of Jeff Bezos’ company fell to $ 2.9 billiondown from 3.1 billion in the same period of 2021. According to estimates, the period January / September 2022 led to a negative balance of at least $ 3 billion. To get a sense of the measure, it is enough to know that in the nine months of 2021 Amazon had earned over 19 billion.

Wall Street: Meta and Amazon collapse

The sharp slowdown in the market is favored by numerous dynamics. First of all there is certainly the current global financial situation, with the very high rate of inflation. The social component of the post-pandemic should not be underestimated. After the boom in online sales of 2020/2021, two years characterized by the lockdown, users are now also back in physical stores.

The situation is certainly not idyllic has obviously spilled over to the stock exchanges, with a day on Wall Street in sharp decline where Meta lost over 24.56%. The Dow Jones managed to partially limit the damage, with a rise of 0.62% to 32,037 points. Bad Nasdaq instead, where Meta lost 1.63% closing at 10,793 points. Amazon instead closed the session at -4%, which was followed by a 20% post-market crash.

Other big techs worth mentioning are Alphabet (-2.85%), Microsoft (-1.98%) and Apple (-3.05%).

Walker Ronnie is a tech writer who keeps you informed on the latest developments in the world of technology. With a keen interest in all things tech-related, Walker shares insights and updates on new gadgets, innovative advancements, and digital trends. Stay connected with Walker to stay ahead in the ever-evolving world of technology.