Musk: I've rarely seen a drop like this in US stocks! US stocks may set the second-highest single-day market cap loss record, second only to the $3.5 trillion record on March 16, 2020

Odaily reports: Macro research account The Macro Paper posted on X platform stating that as of the time of posting, US stocks had lost $2.8 trillion in market cap that day, the largest single-day market cap loss in history; the previous record was $2.69 trillion during the COVID pandemic.

Additionally, readers added background information showing that approximately $2 trillion in market cap was wiped from US stocks that day; by comparison, about $3.5 trillion was erased on March 16, 2020.

Musk expressed surprise in the comments section, with a remark along the lines of "I rarely see situations like this."