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The market value of the seven largest U.S. stock companies evaporated by nearly $600 billion overnight
2024-07-12 00:08
Odaily News After the good news of the US CPI data, traders chose to withdraw from the recent strong performance of technology giants. The heavyweight stock Nvidia closed down 5.57%, Tesla fell 8.44%, Meta fell more than 4%, Apple, Microsoft, Google and Amazon fell more than 2% respectively. In contrast, the Russell 2000 index, which is dominated by small-cap stocks, closed up more than 3.5%. The market value of the "Big Seven" evaporated by nearly US$600 billion (about RMB 4.35 trillion) in a single day, which is equivalent to losing a JPMorgan Chase (market value of US$595.46 billion). (Jinshi)