The market value of the seven largest technology companies in the U.S. evaporated by nearly $600 billion overnight, about 4.35 trillion yuan
PANews reported on July 12 that according to Jinshi, 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 "seven giants" of US technology stocks 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).
[The market value of the seven largest technology companies in the U.S. evaporated by nearly $600 billion overnight, about 4.35 trillion yuan]
