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Apple and Amazon.com kicked off the second week of May looking as if the stocks would extend their six-week losing streaks, the longest since before the pandemic.
Over the last six weeks, Apple (ticker: AAPL) and Amazon (AMZN) have lost more than10% and 30%, respectively, amid a widespread market selloff that has hit the tech sector particularly hard as the Federal Reserve hikes interest rates in a bid to curb inflation. Apple dipped 3.3% on Monday, while Amazon fell 5.2%.