The six largest tech companies in the U.S. lost $500 billion overnight - Apple's capitalization decreased by $154 billion

Statistics of the Federal Reserve of the United States had a negative impact on the value of major U.S. companies in the technology sector. Six firms lost half a trillion dollars overnight.

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A slowdown in inflation to 8.3 percent instead of the planned 8 percent caused the stock market to take its biggest drop in two years. The capitalization of the six biggest tech companies fell in total by $500 billion in 24 hours.

Apple lost the most. Its shares fell by 5.87%, a record since September 2020. Microsoft's stock dropped 5.5%. In monetary terms, the capitalization value of the two companies decreased by $154 billion and $109 billion, respectively.

In percentage terms, Alphabet's stock price fell even more, by 5.9%. But in money terms, the holding company's capitalization decreased by $85 billion. Amazon lost $98 billion with a 7% decline in the value of its securities for the first time since late spring 2022.

Among the six, Meta Platforms and NVIDIA had the strongest drop in their shares - by 9.37% and 9.47%, respectively. Mark Zuckerberg's company capitalization fell by $42 billion. The chip and video card maker lost $34 billion.

Source: CNBC

Image: Forbes