Amazon Falls Over 10% After Earnings Report

Tech selloff that has weighed on market sentiment this week has become more widespread and indiscriminate on Thursday.  Whereas Energy and Basic Materials - sectors that cannot be replaced by agentic AI - had offered investors some refuge thus far, today's selloff is rapidly morphing into a wider panic.  Materials was the worst performing sector on Wednesday as traders resumed selling precious metals while also reacting to the busted Rio Tinto - Glencore deal, crypto continued to plummet, and the fever in the software space showed no signs of breaking.  Moreover, the Vix fear index closed above 21 handle for the first time this year as funds rapidly rotated into Utilities and Treasuries.The opening hours of the evening session are seeing little relief following another high-profile MAG-7 name reporting disappointing results, with Amazon.comfalling over 10% afterhours.  S&P e-minis are down 0.7%, Nasdaq 100 contract is off by 1.2%, and Dow Industrials is slipping by 0.4%.  In commodities, WTI crude is down another 1% below $63 while gold and silver are  below $4,780 and $70 per ounce respectively - the latter now down a whopping 40% from all-time highs seen just last week.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Encompass Health Corporationup 13.5%BILL Holdings, Inc.up 11.5%Dave Inc.up 8.4%Robloxup 8.0%Redditup 4.0%Fortinetup 2.9%Monolithic Powerup 2.1%DOWN AFTER EARNINGS -Doximitydown 37.2%Molinadown 33.6%Amazondown 10.7%Illuminadown 8.6%Microchipdown 7.7%Affirmdown 6.1%Atlassiandown 4.3%Paylocitydown 4.0%