The falls were led by Amazon, which slumped after publishing worse than expected first-quarter results, and by the biggest monthly inflation increase since 2005, and the rises in interest rates that picked up in anticipation of this week's Fed meeting. Amazon plunged 14.05% in its steepest one-day drop since 2006, sending shares near two-year lows. Apple, the world's largest company by capitalization, fell 3.66% after presenting gloomy expectations that overshadowed record quarterly results.