Amazon shares just crashed and burned — and they took the stock market with them.

The Seattle-based Web retailer on Friday saw its shares plunge 7.8 percent after the company warned its holiday sales could come up short.

As analysts parsed whether it was growing competition or a weakening economy that spooked Amazon executives, investors stampeded out of stocks across the board.

The Dow Jones industrial average fell 296.24 points, or 1.2 percent, to 24,688.31.

The S&P 500 lost 46.88 points, or 1.7 percent, to 2,658.69 — its lowest level since May.

The Nasdaq Composite dropped 151.12 points, or 2.1 percent, to 7,167.21, confirming that it’s now in correction territory.

“This earnings season, companies have to be strong on the bottom, strong on the top, and deliver strong guidance or the market is going to punish you,” Quincy Krosby, chief market strategist at Prudential, told The Post.

Amazon missed on two of the three marks when it reported earnings Thursday. While third-quarter profits blew past estimates, sales came in weaker than expected and the company warned that holiday season sales would come up short of analyst expectations.

“When you have the dynamic of everyone believing you can’t do wrong and you have a miss and lower, there’s going to be a reaction,” Brent Thill, analyst at Jefferies, told The Post.

Amazon, whose market cap had briefly crossed the $1 trillion mark last month, is now worth just about $800 billion, losing its spot as the second-most valuable company in the world to Microsoft.

Amazon’s problems are similar to those facing many other tech names — including members of the so-called FAANG group, of which Amazon is a part.

Google-parent Alphabet saw its shares fall 2.2 percent in Friday’s session after it too warned of weaker sales when reporting its third-quarter figures.

Meanwhile, Facebook and Netflix saw its shares off 3.7 percent and 4.2 percent, respectively.

Apple, which reports earnings on Nov. 1, fell 1.6 percent.

“Given Apple’s relationship with Chinese suppliers, as well as its sales there, its guidance will be important for the market,” Krosby said.

Amid the last few weeks of volatile markets — both the Dow Jones industrial average and S&P 500 are negative in four of the last five weeks — tech-related stocks have been especially hammered as worries about rising interest rates and a brewing trade battle between the US and China persist.

The tech-heavy Nasdaq faced its fourth consecutive week of losses.

“We have been conditioned to having the Federal Reserve underpinning the market,” Krosby said.

“The market is taking down leadership and is clearly moving into defensive stocks. Boring is in right now,” she added.

But as interest rates normalize, investors are looking for safe havens in other sectors and asset classes.

“Clearly we’re seeing momentum stocks lose momentum,” said Jack Ablin of Cresset Wealth Advisors.