Investors sold Amazon stock after the company’s earnings report. The S&P 500 fell 1.6% due to unexpected pressure on the U.S. labor market. Eastman Chemical and Amazon’s shares dropped. Monolithic Power’s strong results led to a surge in stock price. The weak jobs report may prompt the Federal Reserve to lower interest rates.

The S&P 500 had its fourth consecutive down day, with the Dow and Nasdaq also declining. Eastman Chemical’s stock plunged 19% due to disappointing sales and profit figures. Coinbase Global missed revenue and earnings estimates, causing its stock to drop. Amazon’s stock fell despite beating revenue and net income estimates. Monolithic Power Systems had the best performance in the S&P 500, with shares soaring over 10%.

Align Technology’s stock rose 5.8% following lower-than-expected sales and profits. First Solar reported stronger-than-expected sales and profits, leading to a 5.3% increase in its stock price. Trade policy shifts bolstered First Solar’s position.

Read more at Yahoo Finance: Amazon Stock Drops; Monolithic Power Surges