Amazon Drops 3.46% to $237.50 on Hawkish Fed, Earnings Focus

Amazon shares closed at $237.50, down 3.46%, underperforming the broader market after the Federal Reserve held rates at 3.50%-3.75% and signaled one hike later this year. The move extended earlier losses triggered by the hawkish policy shift, which pressured high-growth valuations. AMZN has now fallen 5.14% over the past month versus a 1.56% S&P 500 gain, with the stock trading 6.3% below its 20-day SMA. Attention is turning to upcoming earnings, where next-quarter estimates call for $1.82 EPS and $196.87 billion revenue, amid a 27.8x forward P/E.