CNBC: $1,737,000,000,000. 😧
The coronavirus absolutely throttled the market on Monday and Tuesday, wiping out more than a trillion dollars of market value in the S&P 500.
The equity benchmark lost $810 billion in value on Tuesday, adding to its $927 billion loss on Monday. It’s down $2.138 trillion since last Wednesday’s high.
Why is the virus having such an impact on stocks?
The spreading deadly virus, which has infected more than 80,000 people and killed more than 2,700, has sent shock waves through the market. Many fear it could cause an economic slowdown. Meanwhile, companies like Apple, Nike, United Airlines and Mastercard have all raised flags about the coronavirus and its impact on their earnings.
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