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U.S. stock market loses $5 trillion in value in three weeks (www.cnbc.com)

submitted 1 day ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Summary

The U.S. stock market has lost over $5 trillion in value in three weeks as the S&P 500 fell 10% from its record high.

The decline, driven by concerns over Trump’s trade policies and slowing economic growth, has led to weaker consumer sentiment and cautious corporate outlooks.

Barclays strategist Emmanuel Cau noted rising uncertainty among investors.

The selloff has also hit AI-related stocks, with Nvidia down 17% and the Magnificent Seven ETF falling 16%.

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[–] Lemminary@lemmy.world 8 points 1 day ago (1 children)

Imagine if even half of that money had been distributed to the people who earned it by working hard.

[–] in4apenny@lemmy.dbzer0.com 3 points 18 hours ago

An almost unnoticeable 1% of that is £360 billion, imagine what could be done with just that! Half would probably propel humanity forward, says everything you need to know about these wealth hoarders.