New York, Jan 21, 2026, 09:42 ET — Regular session
- Amazon shares slipped in early trading, continuing their retreat following Tuesday’s widespread selloff
- CEO Andy Jassy noted that tariffs are beginning to appear in online prices as sellers make adjustments
- Investors are focused on President Trump’s comments from Davos and the timing of Amazon’s upcoming earnings release
Amazon.com shares slipped 0.4% to $230.01 in early Wednesday trading, following a 3.4% drop to $231 on Tuesday. 1
The stock is caught up in the broader debate over tariffs and rising consumer prices. Amazon holds a large inventory of imported items — so if costs climb, shoppers could feel it immediately at checkout, potentially denting order volumes.
That’s significant for a market already jittery. Traders are wrestling with whether this is just a brief shock or the kickoff of a period where policy news dictates daily swings.
Amazon CEO Andy Jassy said Tuesday that the company is “starting to see some of the tariffs creep into some prices,” with third-party sellers debating whether to pass the higher costs on to customers. He added that while consumers remain resilient, they’re “a little bit more hesitant” when it comes to pricier discretionary items. 2
The comments hit amid a choppy market. On Tuesday, U.S. stocks suffered their steepest one-day decline in three months after President Donald Trump warned of new import tariffs targeting several European nations linked to his Greenland acquisition plan, Reuters reported. 3
Trump announced a 10% tariff starting Feb. 1 on imports from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland, and Great Britain. The rate will jump to 25% on June 1 if no agreement is reached. The CBOE Volatility Index, known as Wall Street’s “fear gauge,” surged past 20. 3
All eyes are on Trump’s keynote at the World Economic Forum in Davos on Wednesday. “The market is nervous about what Trump may say,” said Gina Martin Adams, chief market strategist at HB Wealth. She added that investors are bracing for “the worst case scenario” ahead of hopes for a softer landing. 4
Investors are keeping an eye on Amazon’s cloud division amid the tariff chatter. Amazon Web Services rolled out new EC2 G7e instances, now generally available, powered by Nvidia RTX PRO 6000 Blackwell Server Edition GPUs. These are designed specifically for generative AI inference and graphics tasks. 5
Tariffs are tricky to pin down. Sellers might shoulder the costs temporarily, switch suppliers, or hike prices unevenly. Consumers don’t respond in a straight line. When prices shift on common items, demand can slow and retail numbers get harder to compare, putting pressure on advertising too.
The next key update arrives with earnings. Amazon is set to release its report on Feb. 5, per Nasdaq’s earnings calendar. Investors will be watching closely for signs that tariff-related price hikes are affecting sales volumes, as well as whether demand for AWS remains steady. 6
