Not even the… Bezos: Amazon breaks record by losing a trillion dollars in market value It is the first publicly traded company in the world to lose a trillion dollars. in market value, after a combination of rising inflation, tighter monetary policies and disappointing earnings reports triggered a historic drop in stocks this year.

Shares of the cloud and e-commerce company fell as much as 4.6 percent on Wednesday, leaving the market value at 878 billion dollars, in contrast to the record close of 1.882 billion dollars in July 2021. Amazon and Microsoft they were head-to-head in the race to pass the unwanted milestone, with software maker Windows close behind after shedding $900 billion from a November 2021 high.

While technology and growth stocks have been punished throughout the year, fears of a recession have further dampened sentiment in the sector. The five major technology companies from United States by income have seen nearly $4 trillion in market value evaporate this year.

Amazon, which is the world’s largest online retailer, has spent this year adjusting to a sharp slowdown in e-commerce growth as shoppers return to pre-pandemic habits. Their shares have fallen nearly 50 percent amid slowing salesrising costs and the increase in interest rates.

Last month, Amazon projected the slowest revenue growth for a Christmas in company history as buyers cut spending in the face of economic uncertainty. This pushed its market value below $1 trillion for the first time since the pandemic-fueled rally in tech stocks more than two years ago.

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Not even the… Bezos: Amazon breaks record by losing a trillion dollars in market value