U.S. Markets closed
  • S&P 500

    3,693.23
    -64.76 (-1.72%)
     
  • Dow 30

    29,590.41
    -486.27 (-1.62%)
     
  • Nasdaq

    10,867.93
    -198.88 (-1.80%)
     
  • Russell 2000

    1,679.59
    -42.72 (-2.48%)
     
  • Crude Oil

    79.43
    -4.06 (-4.86%)
     
  • Gold

    1,651.70
    -29.40 (-1.75%)
     
  • Silver

    18.83
    -0.78 (-3.99%)
     
  • EUR/USD

    0.9693
    -0.0145 (-1.4733%)
     
  • 10-Yr Bond

    3.6970
    -0.0110 (-0.30%)
     
  • Vix

    29.92
    +2.57 (+9.40%)
     
  • GBP/USD

    1.0857
    -0.0398 (-3.5360%)
     
  • USD/JPY

    143.3300
    +0.9950 (+0.6991%)
     
  • BTC-USD

    18,958.11
    -248.92 (-1.30%)
     
  • CMC Crypto 200

    434.61
    -9.92 (-2.23%)
     
  • FTSE 100

    7,018.60
    -140.92 (-1.97%)
     
  • Nikkei 225

    27,153.83
    -159.30 (-0.58%)
     

California issues antitrust lawsuit against Amazon, tech stocks search for direction

Yahoo Finance Live anchor Seana Smith examines Amazon's stock amid headlines of an antitrust lawsuit by the state of California, while looking at tech stocks Meta and Apple that were also hurt by yesterday's sell-off.

Video Transcript

[AUDIO LOGO]

SEANA SMITH: Well, let's get you up to speed on a developing story, California suing Amazon. State attorney general there Rob Bonta alleging that the retail giant's contracts with third-party sellers inflates prices and also stifles competition. Now, the suit seeks to block Amazon from engaging in anticompetitive behavior and compensation for California consumers.

Taking a look at the action today in Amazon. You can see, still holding onto gains, up just about 7/10 of a percent. Although, we did see a brief move here to the downside shortly after that news broke there, except we have regained some of those initial losses there.

Stock up 7/10 of a percent today. On a two-day basis, though, we know Amazon is coming off its worst day that we have seen a since May earlier this year. So a two-day chart, the stock's still off just about 6.4%.

Taking a look at the broader tech sector here because yesterday certainly a terrible day for tech. A lot of those large tech giants posting the worst day that we have seen in a couple of years. Apple, Google, Microsoft, among those names here. A bit of a mixed picture there with Apple holding onto gains. Microsoft still in the red.

And then Meta another name here. Meta and Nvidia, the two worst performers in the S&P yesterday. You can see Meta moving down another 2% today. The two-day chart here for the company still in the red, off just around 11%.