These five stocks in the S&P 500 lost almost half a trillion dollars in value in one day amid widespread wipeout

A decline in gasoline prices couldn’t mask the problem that spooked investors on Sept. 13: Core consumer prices resumed their rapid increase during August.

Fear of the Federal Reserve’s ongoing tightening of monetary policy to fight inflation sent the Dow Jones Industrial Average
down 1,276 points (or 3.9%) to 31,104, with all 30 components showing declines as selling activity increased late in the trading session. It was the largest drop since June 2020.

The benchmark S&P 500
fell 4.3%, with all but six component stocks down for the day. The Nasdaq Composite Index
fared even worse with a 5.2% decline, reflecting selling of tech-oriented stocks.

Altogether, it was the worst one-day decline for the three indexes since June 11, 2020.

The Nasdaq-100 index
fell 5.5% with every single component stock ending in the red.

Read: U.S. inflation roars back in August, CPI shows, despite falling gas prices

Nvidia Corp.
and Meta Platforms Inc.
led the plunge for the largest tech-oriented companies in the S&P 500, each sliding 9.4%, followed by Advanced Micro Devices Inc.
which dropped 8.8%.

The five largest companies in the S&P 500 by market capitalization shed $477 billion in value, as you can see here:



Market cap – close on Sept. 13 ($mil)

Change  in market cap – Sept. 13 ($mil)

Change in market cap – 2022 ($mil)

Price change – Sept. 13

Price change – 2022

Apple Inc.







Microsoft Corp.




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