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The majority of the US stock market is in the red on Thursday as the consequences of Donald Trump’s Tariffs hit hard. The Magnificent-7 stocks are seeing huge drops, including Amazon (AMZN). Amazon is down over 7% but fell as much as 8% in the opening hours of Thursday’s trading session.
Roughly $2 trillion was erased from the S&P 500 Index on Thursday. Many investing experts are fearful that the new Tariffs could plunge the US economy into a recession. Thus, investors have begun panic-selling stocks, sending share prices down. Amazon (AMZN) took a big hit, with the e-commerce company heavily impacted by the import tariffs.
Wall Street has been debating in recent weeks just how much Amazon could be hit by increased tariffs. China-based sellers have more than 50% market share on Amazon’s third-party seller marketplace, according to research from MarketPlace Pulse. Additionally, BofA Securities analyst Justin Post wrote last month that tariffs were a “sector negative” for e-commerce. However, the analyst added, “platforms with large third-party selections, such as Amazon or eBay (EBAY), can allow for better substitution and/or for consumers to self-select cheaper items.”
Despite the dip, some analysts are immediately trying to spin the stock crash into a buying opportunity for Amazon (AMZN). For Amazon specifically, Citi analysts suggest that the dip and rumors swirling around Amazon buying TikTok could generate fuel for a quick resurgance. Liberation day impacted most of the stock market, with few major companies remaining in the red on Thursday.
Amazon is firmly entrenched as a top stock in both the AI and cloud-computing sectors. Indeed, recent developments will see it look to increase competition with rival AI companies as it seeks to shrug off early-year losses likely connected to Trump’s new tariffs.
