Author: Canada Vancouver Sailing Farm – Maple news Talk
According to CTV News on May 12th, the 2022 economic collapse has already begun to take shape from the slump of the S&P 500. Tech companies, including business giants such as Apple, Tesla, Microsoft, Google, Facebook and Amazon, were inevitably hit hard.
The S&P 500 has fallen more than 18% since the start of the year, wiping out a total of $7 trillion in market value. And nearly $3 trillion in losses came from the hardest-hit tech sector. Meanwhile, the Dow Jones and Nasdaq also fell 13% and 28%, respectively. This sounded the alarm for the arrival of the economic crisis.
It is reported that the Nasdaq has fallen by more than 20% in the past 30 trading days only 11 times in the past, and nine of them have been directly related to economic recession. And the [CNN Business Fear and Greed Index], which measures the state of the market, is now in the extreme fear level range.
News source：Stock market: More than US$7 trillion has been wiped out this year | CTV News
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