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Amazon just closed its third straight day of losses

Key Points
  • Amazon closed Monday with its biggest two-day drop since February 2014.
  • The stock continued to decline for its third day since delivering a disappointing earnings report on Thursday.
  • October has been Amazon's worst month since 2008.
VIDEO4:1504:15
FANG stocks just off their lows at the open

Amazon closed its third straight day of losses Tuesday, dropping down 0.55 percent by the end of trading. It marked a 23.59 percent drop for the month of October.

The stock been on a steady decline since Thursday when it missed revenue estimates and delivered disappointing fourth-quarter guidance. October has been the worst month for Amazon since 2008.

At Monday's close, Amazon shed $103.93 or 6.3 percent. The stock was trading at its lowest level since April after suffering its biggest two-day loss since February 2014 at 13.7 percent.

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Expert explains why Amazon's stock dropped, despite positive earnings report