NEW YORK: US stocks Friday slumped after earnings from Amazon sparked a big retreat in tech stocks and as world leaders signaled growing worry over Ukraine.
At the closing bell, the Dow Jones Industrial Average dropped 138.16 (0.84 percent) to 16,363.49, while the broad-based S&P 500 lost 14.99 (0.80 percent) at 1,863.62.
The tech-rich Nasdaq Composite Index suffered the deepest losses of the three indices, plummeting 72.78 (1.75 percent) to 4,075.56.
Amazon sank nearly 10 percent after warning of a second quarter loss and reporting a skimpy outlook for profit margins.
"What you see today is a continuation of the trend of the high-growth stocks struggling and Amazon is the poster-child for that today," said David Levy, portfolio manager for Kenjol Capital Management.
Investors are also keeping a close eye on Ukraine as military activity rises and rhetoric becomes more heated. On Friday, Ukraine ratcheted up military operations against pro-Russian rebels in the east.
Ukrainian Prime Minister Arseniy Yatsenyuk said Russia's actions suggested it "wants to start a third world war."
Following a conference call with other leaders, German Chancellor Angela Merkel announced that EU ministers would meet soon to agree new sanctions targeting Russia.
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