Jeff Bezos Amazon Company Becomes the First Company in History to Lose $1 trillion Market Cap

Jeff Bezos Amazon Company Becomes the First Company in History to Lose $1 trillion Market Cap

• 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.
• It’s not just Amazon that’s bleeding money, the top five US tech companies by revenue have already lost nearly $4 trillion in market value so far this year, thanks to rising inflation and macroeconomic headwinds. Amazon and Microsoft Corp. were neck-and-neck in the race to breach the unwelcome milestone, with the Windows software maker close behind after having lost $889 billion from a November 2021 peak.

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Published date : 17 Nov 2022 05:14PM