Wall Street Dragged Down by Amazon, Tech Weakness
(Reuters) – A dreadful week for technology stocks worsened on Monday as Amazon and Tesla shares fell further, setting a grim tone for markets already worried about China's decision to raise import tariffs on U.S. products.
Amazon dropped as much as 3 percent after President Donald Trump launched his latest attack over the pricing of the world's biggest online retailer's deliveries through the U.S. postal system and promised unspecified changes.
The stock was the biggest drag on the S&P 500 and the Nasdaq and weighed the most on the S&P consumer discretionary index, which fell 1.32 percent.
The Facebook data scandal, self-driving car crashes and Trump's intervention against Amazon pushed the S&P technology sector to post its worst monthly losses in nearly two years in March.
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