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Amazon becomes first public company to lose $1-trillion value
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.
Shares in the e-commerce and cloud company fell 4.3% on Wednesday, pushing its market value to about $879 billion (R15.6 trillion) from a record close at $1.88 trillion (R33.4 trillion) on July 2021.
[Bloomberg]
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.
Shares in the e-commerce and cloud company fell 4.3% on Wednesday, pushing its market value to about $879 billion (R15.6 trillion) from a record close at $1.88 trillion (R33.4 trillion) on July 2021.
[Bloomberg]