Amazon becomes the first listed company to lose $1 trillion in market value in a single day.

Amazon has become the world’s first public company whose market value has dropped by $1 trillion in a single trading day. The company’s market cap has seen such a fall due to rising inflation, tight monetary policies and disappointing earnings. Investors are continuously selling shares of the company.

The cloud and e-commerce company’s stock fell 4.3 per cent on Wednesday. With this, the company’s market value reached $ 879 billion, which was very close to its July 2021 $ 1.88 trillion. Both Amazon and Microsoft Corporation are facing losses. Windows software maker Microsoft had a loss of $ 889 billion in November 2021, after which the company’s market value reached very close to Amazon.

While technology and growth stocks suffered losses due to the COVID-19 pandemic, there is still a fear of an economic slowdown in these sectors. America’s top 5 technology companies have been able to earn only about $ 4 trillion in revenue this year.