Worst day since the summer of 2020: six technogiants lost more than $500 billion a day

Worst day since the summer of 2020: six technogiants lost more than $500 billion a day

The previous year's inflation statistics of the US Fedreserve caused not only American but also Asian stock markets to collapse; inflation in the United States slowed to 8.3% in annual terms against the expected 8.0% in August, and that was enough for the stock market to show the strongest decline in two years. The six largest technology companies in the United States lost $500 billion in one day.

If you look at six of the largest technology companies in the US, the biggest capitalization losses can be Apple's, which has been worth 5.87% of its stock since September 2020, updating its antirecord over the same period and Microsoft shares, which have been worth 5.5% and reduced the capitalization of the corporation by $109 billion.

For Alphabet, the decrease of 5.9 per cent resulted in a reduction of capitalization by $85 billion, while the share price of the giant Amazon's Internet trade fell by 7 per cent immediately, which has not been observed since May this year. The capitalization of the company declined by $98 billion. Against this background, Meta* went off easily, as the decline of its share rate by 9.37% reduced capitalization by only $42 billion. Finally, NVIDIA's shares lost 9.47 per cent and reached the 52-week minimum, reducing the company's capitalization by $34 billion.

Bitcoin also gave in to this impulse and scored 10%, which was the strongest fall since June of this year, and now the most popular cryptivate is no more than $20338.

Recent data on consumer price inflation in the United States have undermined the expectations of market participants to slow down, and experts now expect that at the Fed meeting next week the key rate will be raised by 0.75 p.p. as part of another attempt to curb inflation in the country.

* Listed on the list of voluntary associations and religious organizations in respect of which the court has taken a legally enforceable decision to abolish or prohibit activities on the grounds provided for in Federal Act No. 114-FZ of 25 July 2002 on countering extremist activities.