Amazon's stock falls toward longest losing streak in 3 years

Shares of Amazon.com Inc. sank 3.5% in midday trade Monday, as the broad stock market selloff puts them in danger of their longest losing streak in three years. The stock was headed for a sixth-straight decline, and has lost 7.1% during that time. That would be the longest losing streak since the six-day stretch ending March 10, 2016, when the stock lost 3.7% during the streak. Between then and now, there had been four 5-day losing streaks. The current losing streak started the day after the stock rose 3.2%, to snap a four-session losing streak, after Warren Buffett said his investment vehicle Berkshire Hathaway Inc. had bought some Amazon shares, but that it wasn't him that pulled the trigger. Since then, the company announced last week the opening of an Amazon Go store in New York City and said Monday that it was expanding its program to provide more incentives for employees to leave to start small package-delivery businesses. Amazon's stock has still gained 21.4% year to date, while the Nasdaq Composite has climbed 15.3% and the Dow Jones Industrial Average has advanced 8.4%.

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