Shares of Amazon sank 4.3 percent on Wednesday local time, becoming the first listed company in the world to lose US$1 trillion (RM4.708 billion) in market value.

According to CNA, Amazon shares have fallen 49.45% year-to-date due to a string of rising inflation, tightening monetary policy and historic sell-offs triggered by earnings this year. The difference with the market price in July last year is US$1 trillion.

Microsoft Following The Step Of Amazon

Image Credit: Logistics Middle East

Microsoft is following closely behind Amazon. With the current value of Microsoft, their market value may also fall by 1 trillion U.S. dollars. Microsoft’s market value has slipped from last November to US$889 billion (about RM4 trillion 185.4 billion).

Amazon’s revenue growth for last month’s holiday season is expected to be the slowest on record as consumers spend less amid economic uncertainty.

Video Credit: editorji

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