Coronavirus wipes out $1.7 trillion in US stock market value in two days
PUBLISHED TUE, FEB 25 2020 5:11 PM EST
UPDATED TUE, FEB 25 2020 8:09 PM EST
Maggie Fitzgerald
@MKMFITZGERALD
SHARE
KEY POINTS
The S&P 500 just wiped out about $1.737 trillion of its value during its two-day market sell-off, according to S&P Dow Jones Indices.
The equity benchmark lost $810 billion in value on Tuesday, adding to its $927 billion loss on Monday, according to the firm's Senior Index Analyst Howard Silverblatt. It's down $2.138 trillion since last Wednesday's high, according to S&P Dow Jones.
The spreading deadly virus, that has infected more than 80,000 and killed more than 2,700, has sent shock waves through the markets. Companies like Apple, Nike, United Airlines and Mastercard have all raised flags about the coronavirus and its impact on their earnings. Chip stocks, which rely heavily on revenues from China, are being abandoned by Wall Street as it becomes more apparent supply chain disruption will persist until the epidemic is contained.
Coronavirus wipes out $1.7 trillion in US stock market value in two days
Coli wallstreet gang is it time to buy?
@BaldingSoHard
PUBLISHED TUE, FEB 25 2020 5:11 PM EST
UPDATED TUE, FEB 25 2020 8:09 PM EST
Maggie Fitzgerald
@MKMFITZGERALD
SHARE
KEY POINTS
- The S&P 500 lost an estimated $1.737 trillion in value in two days, according to S&P Dow Jones Indices' Senior Index Analyst Howard Silverblatt.
- Stocks cratered again on Tuesday as investors fled riskier assets amid intense fears about a slowdown in global growth caused by the deadly coronavirus.
- The Nasdaq Composite fell 2.8% on Tuesday and joined the S&P 500 and Dow Jones Industrial Average in turning negative for the year.
The S&P 500 just wiped out about $1.737 trillion of its value during its two-day market sell-off, according to S&P Dow Jones Indices.
The equity benchmark lost $810 billion in value on Tuesday, adding to its $927 billion loss on Monday, according to the firm's Senior Index Analyst Howard Silverblatt. It's down $2.138 trillion since last Wednesday's high, according to S&P Dow Jones.
The spreading deadly virus, that has infected more than 80,000 and killed more than 2,700, has sent shock waves through the markets. Companies like Apple, Nike, United Airlines and Mastercard have all raised flags about the coronavirus and its impact on their earnings. Chip stocks, which rely heavily on revenues from China, are being abandoned by Wall Street as it becomes more apparent supply chain disruption will persist until the epidemic is contained.
Coronavirus wipes out $1.7 trillion in US stock market value in two days
Coli wallstreet gang is it time to buy?
@BaldingSoHard
