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Why Amazon, Alphabet, and Shopify Stocks All Tumbled Tuesday

TheMotleyFool

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Why Amazon, Alphabet, and Shopify Stocks All Tumbled Tuesday: https://g.foolcdn.com/editorial/images/711966/a-person-at-a-computer-desk-taking-notes.jpg

A broad cross-section of stocks tumbled again on Tuesday as market watchers focused on the Federal Reserve Bank's ongoing battle against inflation. Over the past several days, a couple of strong economic reports have increased concerns about the trajectory of an already overheated economy.

With that as a backdrop, shares of Amazon (NASDAQ: AMZN) fell 2%, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) tumbled 2.4%, and Shopify (NYSE: SHOP) had slumped 4% as of 12:19 p.m. ET.

A check of all the usual sources didn't uncover any company-specific news behind the sell-off, which suggests investors fear that the Fed might not be able to slow the pace of rising interest rates as quickly as they had hoped.

Source Fool.com

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