Amazon Shares Hit by Escalating Trade War Fears

Tech Sector Bears the Brunt

Wall Street experienced significant turbulence following the announcement of potential substantial tariffs on Chinese imports by the US administration. This development sent shockwaves through the market, with e-commerce leader Amazon absorbing a disproportionate share of the impact. The company’s shares emerged as one of the session’s poorest performers, shedding approximately 5% during Friday’s trading.

The broader market indices reflected the widespread concern, with the Nasdaq Composite plummeting 3.6% and the S&P 500 index declining 2.7%. The selling pressure was particularly intense across the technology sector. Semiconductor stocks faced notable weakness due to their substantial reliance on Chinese manufacturing, contributing to weekly losses exceeding 2.4% for all major indices.