Why Amazon Shares Are Falling

Shares of several companies in the broader technology sector, including Amazon.com, Inc. AMZN, are trading lower as investors weigh Wednesday's Fed announcements and assess tapering outlook. Expected rate hikes for 2022 which could weigh on tech and growth stocks.

Amazon shares are also trading lower amid overall market weakness as omicron variant concerns weigh on stocks across the broader technology sector.

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Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators. Retail-related revenue represents approximately 83% of total, followed by Amazon Web Services' cloud computing, storage, database, and other offerings (12%), and advertising services and cobranded credit cards (6%). International segments constituted 27% of Amazon's non-AWS sales in 2020, led by Germany, the United Kingdom and Japan.

Amazon has a 52-week high of $3,773.08 and a 52-week low of $2,881.00.