CNNFN writes article about $1 trillion erased from stocks so far in 2016:
vanish from the stock market.
The eye-popping losses highlight the deep fears that has gripped
financial markets over China’s economic slowdown and crashing
oil prices.
That one-two punch caused the Dow and S&P 500 to suffer their
worst start to a trading year on record last week.
The S&P 500’s market valuation has plunged by $1.04 trillion since the
end of 2015, according to S&P Dow Jones Indices.
To put that stunning figure in context, it’s like wiping out the
combined value of the following tech giants: Google (GOOGL,
Tech30) ($508 billion), Facebook (FB, Tech30) ($281
billion), Intel (INTC, Tech30) ($154 billion), Netflix
(NFLX, Tech30) ($50 billion) and Yahoo (YHOO,
Tech30) ($29 billion).
The Dow’s market cap has plunged by $310 billion through Monday’s
close, according to S&P Dow Jones Indices. That’s equivalent to
ExxonMobil (XOM) ($309.5 billion) being erased from the index.
The Nasdaq, the star of 2015, is also off to a terrible
start. It’s down about 7% so far in 2016 and on Monday notched its
eighth losing day in a row. That’s the longest losing streak for the
Nasdaq since 2008.
Small-cap stocks are getting rocked even more than their larger
cousins. The Russell 2000 has already tumbled 7% this year and narrowly
CNNFN Article Source Here.