What happened Shopify (NYSE: SHOP) sank 3.7% on Friday, as Amazon.com's (NASDAQ: AMZN) post-earnings plunge intensified investors' fears of an industrywide slowdown. So what Amazon's shares dropped 14% after the e-commerce colossus said its online retail sales fell 3% year over year in the first quarter. Read More...
TheStreet.com
Black Friday for The FAANG Who May Lose a Member
While concerns were already surrounding tech as the Federal Reserve hiked interest rates to curb inflation, there was still hope that tech tenors would provide some reassurance on the outlook for companies much more established. There was the hope that Apple , Amazon , Google (Alphabet) could make people forget the possible underperformance of Facebook (Meta) , or even Netflix . From the first quarter results of Facebook, Apple, Amazon, Netflix and Google, the famous FAANG, it appears that fears about a possible recession are well founded.
