Amazon shares tumble 4.6% as Senate probe and tech sell‑off weigh

Amazon stock decline Senate marketplace investigation tech sector selloff AWS revenue growth AI capital spending

Amazon.com Inc. (AMZN) fell about 4.6% on Thursday, trading around $233 per share after closing at $244.85 the previous day. The drop coincided with a broader decline in the “Magnificent Seven” megacap stocks following earnings reports from other tech giants.

A newly announced Senate investigation into alleged Chinese influence on Amazon’s marketplace added pressure on the stock. Analysts noted that despite the sell‑off, Amazon Web Services posted a 28% year‑over‑year revenue gain in Q1, its fastest growth in 15 quarters, and the company continues to plan roughly $200 billion in AI‑related capital spending through 2026. The market also absorbed news of job cuts in Amazon’s artificial‑general‑intelligence unit and policy wins in India that could aid its e‑commerce exports.

Investors remain watchful ahead of Amazon’s second‑quarter earnings report scheduled for July 30.

Sources

Amazon Fell 4. 6% Today Because Other Companies Said They Would Spend More Money. It Reports July 30. | The Motley Fool [www.fool.com]

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