Amazon slips below $1 trillion for the first time since April 2020.
- The stock plummeted 5.5 percent to $96.79, reflecting a $987.4 billion market value. Shares finished at their lowest level since April 2020, down 42% this year.
- Amazon peaked over $1.9 trillion on November 18. It fell 20% in its sixth straight session. The Nasdaq 100 Index lost 1% Tuesday.
- Last week’s Seattle corporate earnings report forecast the worst holiday-quarter growth in its history, causing recent downturn. Amazon, which made record earnings during the epidemic, predicted just 2-8 percent sales growth during its peak season.