S&P 500 has lost 7 trillion dollars since the beginning of the year

The S&P 500 is down 13% this year. Tech stocks were among the index's losers of about $3 trillion.

According to CNN, the financial crisis in 2022 has wiped out $7 trillion in market capitalization of the S&P 500 index. Since the end of December, the S&P 500 has lost nearly 18 percent.

Ending session 12/5, this index continued to lose another 104 points, or 0.3%. This year, the S&P 500 has lost a total of 13%.

Technology stocks were among the hard-hit groups. Despite closing slightly higher yesterday, the Nasdaq 100 is still down about 27% this year.

Among the $ 7 trillion in value decline of the S&P 500, the group of technology companies such as Apple, Alphabet, Tesla, Amazon, Microsoft ... contributed more than 42%. Netflix, in particular, is the worst performing stock in the S&P 500, down more than 70% this year.

Besides, the rapid decline of the market also raised alarm bells for retail companies. Investors are concerned that the US economy may be running out of breath after experiencing a strong recovery after the pandemic.

Nasdaq has plummeted more than 20% in the past 30 trading days, according to data from research firm Bespoke Investment. Worth mentioning, this decline has only happened 11 times in the past, and 9 of them are related to the recession.

However, Bespoke analysts think Nasdaq is still likely to bottom soon. "Stocks may continue to sell off in the near future, but it won't stay like that forever," the group said.

Currently, CNN's psychological index is at extreme fear. After investors fall into a state of abandonment, this may be the time when buying money flows back.

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