Amazon shares closed near $250 on October 16, down roughly 1.9% amid broad technology-sector weakness and rising inflation concerns that have lifted expectations for higher interest rates and tempered demand for growth stocks. The pullback leaves AMZN about 13% below its August high of $287, with trading volumes elevated near 39 million shares. Strong second-quarter results underpin longer-term sentiment, as AWS revenue surged 37% year-over-year with operating margins expanding to 39.4% and backlog reaching $496 billion, driven by AI demand. Capital expenditures were guided higher to $220 billion for 2026, pressuring near-term free cash flow. Traders are now focused on the October 29 third-quarter earnings release for updated guidance on AWS growth and advertising trends.