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Worst Week for Amazon Stocks in 4 Years

Amazon stocks dropped 12% this week, marking their worst week since December 21, 2018, when they fell 13.4%. The market indexes including Nasdaq Composite, S&P 500 and Dow Jones Industrial Average declined 1.9%, 1.3%, and 1.3%, respectively. 

This week’s losses are due to huge pressure from the technology market sell-off. Markets declined on Friday as investors worried about higher interest rates as well as some company earnings reports.

With the Federal Reserve increasing interest rates frequently in 2021 to deal with rising inflation, many investors are troubled. Additionally, on Thursday, Netflix announced a distressingly weak subscriber prospect, and its shares dropped nearly 22% the next day.

Netflix will be the first major technology company to publish earnings report in this season. Companies like Apple, Microsoft and Tesla will release their financial reports this week. Amazon’s report is for the fourth quarter, February 3.

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By Saha on January 22, 2022

Hackers Exploit E-sales Amidst Shopping Season

This year, digital shopping has been widespread across the world; Amazon reported massive sales of third-party goods, $4.8 billion, just before Thanksgiving. With the considerable growth in online sales, cybercrooks are taking advantage by creating fictitious identities and distributing false messages. Using detours from famous websites like Amazon, FedEx, and UPS, they have started their fake cyber work to exploit unsuspecting online shoppers. According to Check Point Software Technologies, the fake notices have been exactly 440% from October to November. Accessing customers’ private information, owners of fake shipping links ask them to pay a huge ransom to reclaim their identity. Sixty five percent of fictitious shipping emails and notifications in the U.S. relate to Amazon because of the popularity of the e-commerce company, Check Point announced. And that’s why Amazon has urgently asked its customers to report suspicious communications, like emails, texts or even phone calls, to Amazon customer service. Samira H.
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By Samira Hassanzadeh on October 19, 2021


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