Stock market value wiped out equals $2.5 trillion and counting
The U.S. stock market officially fell into correction territory Thursday and now we now the total damage: $2.49 trillion.
That’s the market value that has been wiped out from the S&P 500 during its 10 percent rapid slide from a record on Jan. 26.
The total is even bigger for global stock markets with $5.20 trillion gone as they followed the U.S. market’s lead. Both figures are from S&P Dow Jones Indices.
Traders are worried the selling isn’t near over after the S&P 500 fell back below its Tuesday low during its 3.8 percent plunge Thursday. The benchmark is now at its lowest point since last November.
The energy, health care, financials, materials and technology sectors are all in correction territory as well, according to S&P Dow Jones.
President Donald Trump need not worry yet as the S&P 500 is still up $3.55 trillion since his election in November 2016, according to S&P Dow Jones.