Amazon Completely Crushed (AMZN)

I would like to draw your attention to the chart of Amazon.com AMZN. The shares have lost over 8% today and are trading at $108.28. Volume has been heavy, with around 8 million shares trading hands compared to a 3-month daily average of under 7 million. On a year-to-date basis, AMZN has lost almost 20%. The market is telling us something today, and it is not good news. Stocks are pricing in a steep retrenchment in consumer spending going forward. Adjust your portfolio accordingly.