Amazon has lost $1 trillion in market cap Au.

0
9

Amazon.com


has now lost more than $1 trillion in market cap, the most ever by a US company and the first time a company has lost that much market value. It is a painful reminder for investors that valuation multiples change drastically in bear markets.

Amazon (AMZN) shares hit a new 52-week low on Wednesday, closing at $86.14 a share, down 48% so far in 2022.

ALSO READ  Asian stocks fall, led by China; Treasury Rally: Markets Wrap

S&P 500


and

Nasdaq composite


have fallen about 22% and 35% respectively.