Amazon predicts sales growth slowdown for holidays, crushing shares

FILE PHOTO: The Amazon logo is seen at the company's logistics centre in Boves, France, October 6, 2021 REUTERS/Pascal Rossignol/File Photo

(Reuters) -Amazon.com Inc on Thursday forecast a slowdown in sales growth for the holiday season, disappointing Wall Street and warning that inflation-wary consumers and businesses had less money to spend.

Amazon's 12% extended-trade stock drop erased about $140 billion in its market capitalization, greater than the entire value of companies such as Morgan Stanley, Netflix and Lockheed Martin.