More Than $1 Trillion Wiped From U.S. Equities in Market RoutBy
The worst day for U.S. equities in 6 1/2 years came with a price -- namely $1.25 trillion.
That’s roughly how much was wiped from the value of American stocks in the frenzied selling Monday that took the Dow Jones Industrial Average down almost 1,200 points. The 4.1 percent drop in the S&P 500 Index left the market cap of U.S. stocks at around $29 trillion.
That was enough to undo all the market capitalization added to equities in the aftermath of the Republican tax cuts.