The world’s largest technology companies have lost more than $1 trillion in value in just three trading sessions.
Shares have generally been sold since the The Federal Reserve raised its benchmark interest rate on Wednesday, but technology has borne more pain than other sectors of the economy.
Investors are now less interested in what drove the business during a strong bull market in recent years, even during the pandemic, and are now pumping more money into safer parts of the market, including commodities like campbell soup, general mills Y J. M. Smucker.
Market capitalization lost during the last three trading sessions.
AppleThe world’s most valuable public company has lost $220 billion since the close of business on Wednesday, the day Fed Chairman Jerome Powell declared that inflation was too high and there were no plans for a rate hike for more than half a year. porcentual point
Markets rose first on Powell’s comments, but optimism faded in the days that followed. Stocks were down on Thursday, down again on Friday, and then even lower on Monday. The US S&P 500 stock index fell below the 4,000 mark on Monday, having declined 7% from Wednesday’s close, while the Invesco Nasdaq 100 ETF fell nearly 10% over the same period.
Here are the other big losses in the last three trading days:
- Microsoft it has lost about $189 billion in value.
- tesla the downgrade is recorded at $199 billion, months after seeing its valuation fall below $1 trillion.
- from amazon the market capitalization has decreased by $173 billion.
- AlphabetGoogle’s umbrella company is worth $123 billion less than last week.
- graphics card manufacturer from nvidia the loss amounts to 85,000 million dollars.
- And father of Facebook Metaplatforms it has lost $70 billion in value.