Amazon enters technical correction after 11% decline from record high

JUST IN: Amazon $AMZN has entered technical correction territory after falling approximately 11% from last month's all-time high.
A correction is commonly defined as a decline of at least 10% from a recent peak, making the latest move a notable deterioration in short-term price momentum.
The pullback puts attention on whether buyers step in at lower levels or whether weakness continues across large-cap technology stocks.