Amazon Stock Plunges as US-Iran Conflict Escalates Again

Amazon's stock price fell by over 2% on Monday after the US launched airstrikes against Iranian rocket launchers near the Strait of Hormuz. The move reignited concerns about a renewed conflict in the region, which has significant implications for global energy supplies.

The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all traded lower on Monday, with Amazon's stock price dropping to $260.05 by 10:51am Eastern time on the Nasdaq.

US Central Command confirmed that American forces struck Iranian rocket launchers on Iran's Larak Island on Sunday, which had been preparing to launch rockets and deploy sea mines into the Strait of Hormuz.

Oil prices surged in response to the renewed hostilities, with global benchmark crude gaining around 2% at Monday's market open, according to Bloomberg. Higher energy costs have weighed heavily on Amazon's stock throughout the broader six-month conflict between the US, Israel, and Iran.