Bezos' $4 Billion Stock Sale Triggers Amazon Sell-Off

Amazon's stock price is falling after company founder Jeff Bezos filed to sell more than $4 billion worth of shares. The sale took place on Monday through Morgan Stanley, according to CNBC.

The move comes just a day after Amazon reached a historical $3 trillion market capitalization following its blockbuster second-quarter earnings report. The company's stock has climbed over 20% so far this year, driven by investor enthusiasm for technology firms building the infrastructure needed to power artificial intelligence.

Amazon reported adjusted earnings of $1.97 per share for the second quarter, comfortably beating analysts' expectations of $1.82 per share. Revenue reached $200.61 billion, also topping Wall Street forecasts of $196.47 billion.