The tech giants have lost over $ 1 trillion in value in the past three trading days

OMAHA, NEBRASKA – APRIL 30: Apple CEO Tim Cook walks through the convention hall at the Berkshire Hathaway Annual Shareholders’ Meeting on April 30, 2022 in Omaha, Nebraska. This is the first time the annual shareholder event has been held since 2019 due to the COVID-19 pandemic. (Photo by Scott Olson / Getty Images)

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The largest technology companies in the world have lost over $ 1 trillion in value in just three trading sessions.

The shares have generally been sold since The Federal Reserve raised the benchmark interest rate Wednesday, but technology suffered more than other sectors of the economy. Investors now have less interest in what drove the business during a strong bull market in recent years, even during the pandemic, and are now pushing more money into safer pockets in the market, including basic necessities like Campbell soup, General Mills Other JM Smucker.

Market capitalization lost during the last three trading sessions.

CNBC

Applethe world’s most valuable corporation, has lost $ 220 billion in value since trading closed on Wednesday, the day Fed Chairman Jerome Powell said inflation was too high and there were no plans for an increase in rates of more than half a percentage point.

Markets rallied for the first time on Powell’s comments, but optimism exploded in the following days. The shares fell Thursday, fell again on Friday and then again on Monday. The S&P 500 US stock index fell below the $ 4,000 mark on Monday, after falling 7% since Wednesday’s close, while the Invesco Nasdaq 100 ETF fell nearly 10% over the same period.

Here are the other big losses over the past three trading days:

  • Microsoft lost approximately $ 189 billion in value.
  • by Tesla the markdown stands at $ 199 billion, months after seeing its valuation drop below $ 1 trillion.
  • by Amazon market capitalization fell by $ 173 billion.
  • alphabetGoogle’s umbrella company is worth $ 123 billion less than last week.
  • Graphics card creator by Nvidia the loss is 85 billion dollars.
  • And the parent of Facebook Meta Platforms lost $ 70 billion in value.

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