Top 5 U.S. companies losing a total of $260 billion in market cap, led by Apple and Amazon
Shares of the top-five largest U.S. companies by market capitalization are all falling more than the broader stock market, as the stocks of Amazon.com Inc. (AMZN) and Tesla Inc. (TSLA) led the way lower. The combined market-cap losses of the five companies was about $259.9 billion as of Tuesday afternoon. In order of market-cap size, shares of Apple Inc. (AAPL) shed 2.8% to lost $63.3 billion in market cap; Microsoft Corp. (MSFT) dropped 2.9% to shave $58.1 billion off its market cap; Alphabet Inc. (GOOGL)(GOOGL) slid 2.8%, with its market cap falling by $43.4 billion; Amazon sank 5.2%, and lost $59.4 billion in market cap; and Tesla slumped 4.7% to lose $35.7 billion in market cap. Meanwhile, the benchmark large-cap tracker, the S&P 500 , lost 1.9%.
(END) Dow Jones Newswires
June 28, 2022 14:50 ET (18:50 GMT)
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