According to The Kobeissi Letter, the S&P 500 experienced a rapid and unusual 50-point drop between 3:50 PM and 4:00 PM ET, despite the absence of major news events. Shortly after, Amazon (AMZN) shares fell over 6% following the release of a weaker-than-expected Q2 operating income report. Traders should note the heightened volatility and potential for algorithmic trading triggers during late-session trading, especially on days with key earnings reports. Source: The Kobeissi Letter via Twitter.