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Peloton Interactive Inc. extended its declines on Tuesday after the announcement that Amazon.com Inc. is launching a service called Halo Fitness to compete with offerings from Peloton and Apple Inc.
The stock fell as low as 5.5% on Tuesday, but eased some of the decline to close at 4.6% and the lowest level in more than four months. Platoon was already trading lower before the news broke, participating in a large sell-off of tech stocks spurred by rising bond yields. Apple fell 2.4% on Tuesday while Amazon slipped 2.6%.
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