Why Amazon Stock Is Sinking Today
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Amazon's stock is down 2.2% amid broader market declines, influenced by new tariffs set to take effect on April 2 and a price-target reduction by Jeffries from $275 to $250. Concerns over potential recession and inflation due to these tariffs are causing investor sell-offs. Despite the downgrade, Jeffries maintains a 'buy' rating, citing a potential upside of 32% from the new target. The overall market is reacting negatively to macroeconomic risks, impacting growth stocks like Amazon.
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