Home » Wall Street looks bad: Nasdaq -21% ytd. Big Tech Amazon Apple & Co lose more than $ 2 trillion

Wall Street looks bad: Nasdaq -21% ytd. Big Tech Amazon Apple & Co lose more than $ 2 trillion

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Wall Street looks bad: Nasdaq -21% ytd.  Big Tech Amazon Apple & Co lose more than $ 2 trillion
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Nightmare April for Wall Street, capitulated under the weight of news about the conflict between Russia and Ukraine, fears of accelerating inflation in the US (and the world) and, closely linked to the previous fear, risk that the rate hikes that the Fed of Jerome Powell intends to sink the American economy, causing a hard landing. A perfect mix of concerns, in short, which led the Dow Jones index to fall by 4.9% in the month, and the S&P 500 to sink by 8.8%. Both indices reported the worst month since March 2020, when the alarm over the Covid-19 pandemic sounded around the world.

The Nasdaq did even worse, sinking by 13.26% in April, ending the worst month since October 2008.

The sells in April led US equity indices to accelerate losses suffered since the beginning of 2022.

The balance is as follows: after closing last Friday’s session with a thud of 939 points (-2.8%), the Dow Jones Industrial Average, at 32,977.21, is down by 9.2% from beginning of the year. L’index S&P 500 it lost 13.3% while the Nasdaq brought the 2022 declines to -21.2%.

Eye in particular, in addition to the best known names, a Teladoc Health whose stock dropped 42% last week, plummeting 40% on April 28, when the company significantly reduced its outlook on sales and earnings.

The last session in April confirmed the strong sell-off phase that hit the US stock market: the S&P 500 fell 3.63% last Friday, bringing back the worst session since June 2020 and concluding its fourth consecutive week. in negative territory, for the first time since September 2020.

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Fourth consecutive week in the red also for Nasdaq, collapsed last Friday by 4.2%.

The Nasdaq is the special observation of global investors, given the sales that have raged against technology stocks, in particular against i FAANG, or Facebook, (holding Meta Platforms), Apple, Amazon.com, Netflix and the Google Alphabet holding.

With Microsoftthe club of five saw market capitalization collapse by a value of $ 1.404 trillionin April, according to a Marketwatch article.

But the sales had hit and FAANG + Microsoft already in the previous months, so much so that the balance from the beginning of the year is one loss in market value of -2.214 trillion.

Last Friday famous victim was certainly Amazon, which on the stock market fell by more than -14% after a quarterly report was issued and an outlook was provided that have frozen investors.

Curiosity: the disposals have deducted from the wealth of the Amazon founder Jeff Bezosdown $ 20.5 billion in just 24 hours.

Not to worry, however, considering that Bezos is the second richest man in the world, with an estimated net worth of $ 148 billion as of April 30, according to the Bloomberg Billionaire Index. The gap with the richest man in the world, Elon Musk di Teslait has expanded in any case and consequently to over $ 100 billion.

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