Amazon shares are trading lower as stocks sell off amid rising yields. Additionally, Ofcom is reportedly set to advocate for an antitrust probe into Amazon and Microsoft's UK cloud computing market share.
Portfolio Pulse from Bill Haddad
Amazon shares are trading lower due to a general stock sell-off amid rising yields. UK regulator Ofcom is reportedly advocating for an antitrust probe into Amazon and Microsoft's cloud computing market share in the UK.
October 03, 2023 | 5:44 pm
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NEGATIVE IMPACT
Amazon's stock is trading lower due to market-wide sell-off and potential antitrust probe in the UK.
The general market sell-off due to rising yields is negatively impacting Amazon's stock. Additionally, the potential antitrust probe into Amazon's cloud computing market share in the UK could lead to regulatory issues, further pressuring the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100