Investors watch earnings from Amazon and its large-cap tech peers closely, in part because of the outsize influence that their performance has on major indexes. Amazon alone accounts for 4.1% of the market value of the S&P 500, FactSet data show. The S&P 500 fell 3.6% Friday amid a decline from Amazon and other technology stocks.
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Subscribe The drop wiped out roughly $206 billion of Amazon’s nearly $1.5 trillion market capitalization.