Amazon stocks fall to longest losing streak in more than two years

Amazon.com Inc. AMZN Shares,
-2.88%
slipped 2.9% to a sixth straight loss in afternoon trading on Monday, amid a large market sell-off in which the tech sector was hit the hardest. Shares of the e-commerce and cloud giant are on track to suffer the longest streak of losses since the eight-day period ended on August 5, 2019, according to Dow Jones Market Data. The stock, which is heading towards a six-week low, has now fallen 14.5% since closing at a record high of $ 3,731.41 on July 8. The sale comes as the S&P 500 SPX,
-1.33%
fell 1.5% and the SPDR Consumer Discretionary Select Sector ETF XLY,
-0.90%
lost 2.8%. Amazon announced earlier Monday that Prime members will be able to send gifts on its mobile app with just the recipient’s mobile phone number or email address. Amazon stock is down 2.1% year-to-date, while the S&P 500 has gained 14.2% and the consumer discretionary ETF is up 13.3%.