Amazon A New High Score

Amazon ($AMZN@US) is the world’s first public company to lose a trillion dollars in market value. Shares in the company fell 4.3 percent on Wednesday bringing its market value down to $879 billion from a record close of $1.88 trillion on July 2021. The milestone came after rising inflation, tightening monetary policies, and low earnings sparked a historic selloff in the stock earlier this year. Microsoft ($MSFT@US) is following close behind after having lost $889 billion from a November 2021 peak.