Mar 29, 2018

Amazon sinks as US tech stocks continue to slide

Technology shares, which helped power the rise of the US stock market last year, are pulling it lower now. The tech-rich Nasdaq index dropped 0.85% or almost 60 points to 6,949.2 on Wednesday, driven by declines in firms such as Amazon, Tesla and Broadcom. Analysts said the decline reflects a confluence of factors, including a desire to lock in gains notched last year when technology stocks surged. Amazon shares closed Wednesday down 4.4%, continuing Tuesday's slide. Tesla shares fell another 7%, a day after US safety regulators said they were investigating a recent crash.

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