Amazon shares closed down 6.3 percent on Monday suffered their steepest two-day tumble in more than four years, as investors continued to flee the stock following Thursday's disappointing earnings report.

The stock dropped $103.93 to $1,538.88 at the close, after losing $139.36, or 7.8 percent, on Friday, and is trading at its lowest price since April, down 23 percent over the past month. The 13.7-percent drop over two days is the biggest decline since February 2014, when the shares plummeted 14.1 percent.