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Amazon shares drop 12% after weak Q3 earnings, erase $315B market cap
Amazon shares fell about 12% in after-hours trading after reporting Q3 earnings that missed expectations, wiping roughly $315 billion from its market capitalization. Source: @TheKobeissiLetter. Link: https://t.co/PktjkI1Gbx
Key facts
- Price move: -12% after-hours
- Market cap change: -$315 billion
- Catalyst: Weaker-than-expected Q3 earnings
Potential market impact
- Risk sentiment: Broad risk-off tone can pressure equities and correlated risk assets, including crypto
- Volatility: Likely increase in short-term volatility across major indices and digital assets
- Liquidity: Wider spreads and reduced depth are possible in after-hours and into the next session
Authors credited by the source: thekobeissiletter
Published by Holder based on an external source.
