Amazon: The First Company to Lose $1 Trillion in Market Value

Amazon, one of the first companies to join the prestigious $1 trillion dollar valuation club, just passed another, admittedly less desirable milestone. This week, Amazon became the first public company ever to lose over $1 trillion in value. It earned this distinction when its market cap dipped to $879 billion on Wednesday. Amazon.com Inc. is the world’s first public company to lose a trillion dollars in market value as a combination of rising inflation, tightening monetary policies, and a broader brutal tech selloff took its toll.

Amid a crash in tech stocks, Amazon became the first publicly traded company to report a $1 trillion market value loss. That is comparable to losing the $1.13 trillion market value of, well, a lot! Bloomberg reported that Amazon is the world’s first public company to lose a trillion dollars in market value.

One of the most well-known brands on the planet, Amazon, has become the first company to lose $1 trillion in market cap value. The loss is registered as the largest in… well, history for a public company. The dramatic drop highlights the challenges facing tech giants in a rapidly changing economic landscape.