Amazon.com Inc. is the world’s first public company to lose a trillion dollars in market value as a combination of rising inflation, tightening monetary policies and disappointing earnings updates triggered a historic selloff in the stock this year. Shares in the e-commerce and cloud company fell 4.3% on Wednesday, pushing its market value to about $879 billion from a record close at $1.88 trillion on July 2021.
While technology and growth stocks have been punished throughout the year, fears of a recession have further dampened sentiment in the sector. The top five US technology companies by revenue have seen nearly $4 trillion in market value evaporate this year.
Jean Dujardin, Bérénice Bejo: The Artist by Michel Hazanavicius, 2011
bloomberg.com, Subrat Patnaik and Jeran Wittenstein 09.11.2022