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Technology giants have lost more than $ 1 trillion in the last three trading days

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Investors are now less interested in what has driven business in a strong market in recent years, including during the pandemic, and are now pushing more money into safer market pockets, including commodities such as Campbell Soup, General Mills and JM. Smucker, writes CNBC

Apple, the world’s most valuable public company, lost $ 220 billion since trading ended on Wednesday, when Fed Chairman Jerome Powell said inflation was too high and there were no plans for a rate hike. more than half a percentage point.

Markets rose at first in Powell’s comments, but optimism spread in the following days, with stock prices falling on Thursday, Friday and Monday.

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The US S&P 500 index fell below 4,000 on Monday, down 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 has lost about $ 189 billion in value.

  • Tesla’s reduction comes to $ 199 billion, a few months after its valuation fell below $ 1 trillion.

  • Amazon’s market capitalization fell $ 173 billion.

  • Alphabet, Google’s umbrella company, is worth $ 123 billion less than last week.

  • The loss of graphics card manufacturer Nvidia amounts to $ 85 billion.

  • Meta Platforms has lost $ 70 billion in value.

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