Amazon's (NASDAQ: AMZN) stock was falling today on seemingly no company-specific news. Instead, some investors may be pulling back from the stock today after its shares climbed nearly 10% last week, as they assess the risk of a potential economic slowdown.
Investors temporarily got excited about some stocks last week, pushing up the Nasdaq Composite by about 7.4%, but that excitement appears to have tapered off today. The e-commerce company was down 2.5% as of 2:29 p.m. ET Monday.
Investors have been generally very pessimistic about the market lately as inflation has climbed to its highest level in four decades. To bring sky-high inflation back down, the Federal Reserve has committed to hikes of the federal funds rate throughout 2022.
Source Fool.com