Investing.com - Amazon fell more than 3% on Tuesday, extending a rout that began last week, when the e-commerce giant posted third-quarter revenue that missed analysts' estimates and delivered underwhelming guidance for the crucial fourth-quarter period.
Amazon.com (NASDAQ:AMZN) fell by 3.19% to trade at $1,489.80 by 13:33 (17:33 GMT) on Tuesday on the Nasdaq. October has been the worst month for Amazon since 2008.
The weakness in Amazon comes a day after the UK government announced Monday a special digital services tax on U.S. technology firms including Amazon to ensure they "pay their fair share," raising fears of margin pressures at a time when investors fret about peak corporate profits.
The volume of Amazon.com shares traded since the start of the session was 8.86 milllion. Amazon.com has traded in a range of $1,476.36 to $1,540.99 on the day.
The stock has traded at $1,809.5000 at its highest and $1,477.0100 at its lowest during the past seven days.