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Wall St loses over $200 billion in value after report from Amazon

Wall St loses over $200 billion in value after report from Amazon

Over $200 billion in U.S. stock value went up in smoke in extended trade Thursday, after a weak forecast from Amazon added to downbeat quarterly reports from Big Tech companies. Amazon’s stock tumbled 17% after the bell, wiping out $190 billion in market capitalization after the retail and technology heavyweight …

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Tech giants feel pain as cloud spending cuts suggest slowdown

Tech giants feel pain as cloud spending cuts suggest slowdown

U.S. tech giants Amazon.com, Microsoft and Intel said this week that customers were taking an axe to cloud and datacenter spending. Cloud services for years has been one of the largest and most dependable sources of growth for some of the biggest tech companies, including during the pandemic as people …

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