This time it’s Amazon
A 5% drop in the Amazon’s shares leads the S&P 500 down
The new normal is to dump the best stocks, presumably on the grounds that they have the most to lose. Reports that Amazon would compete with FedEx and UPS in the package delivery business first took down the courier companies’ stock price. Then Amazon itself became the worst performer on the day in the S&P 100, and led the broad market down, as the chart shows. Priced-to-perfection stocks seem the most vulnerable.