Why The Technology Sector Is Red Today

The broader technology sector is trending lower on Friday amid COVID-19 concerns in China, the continued Russian-Ukraine conflict, and Amazon’s AMZN poor quarterly earnings report are pressuring the markets into the weekend.

$3.8 billion in losses in the first quarter caused Amazon’s stock to drop 14.05% over Friday’s trading session, making it the worst-performing day the stock has had since July 2006.

See Also: The Nasdaq, S&P 500 And Dow Took A Big Dive In April

As the third-heaviest stock in the S&P 500, a drop in share prices will have ramifications for the entire sector. Among the stocks trading in tandem with Amazon include:

• Adobe Inc ADBE
• Applied Materials, Inc. AMAT
• Crowdstrike Holdings Inc CRWD
• Cisco Systems Inc CSCO
• Corning Incorporated GLW
• Samsara Inc IOT
• KLA Corp KLAC
• Shopify Inc SHOP
• Tenable Holdings Inc TENB
• Thoughtworks Holding Inc TWKS
• Workday Inc WDAY
• Wix.Com Ltd WIX
• Workiva Inc WK
• Sabre Corp SABR