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Wall Street closes sharply lower on Amazon slump, inflation worries

Dow plunges 940 points; S&P 500 down 155 points

Wall Street finished sharply lower on Friday following Amazon's gloomy quarterly report.   © Reuters

(Reuters) -- Wall Street finished sharply lower on Friday, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates.

Amazon.com tumbled in its steepest one-day drop since 2006, leaving the widely held stock near two-year lows. Late on Thursday, the e-commerce giant delivered a disappointing quarter and outlook, swamped by higher costs to run its warehouses and deliver packages.

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