The Nasdaq Composite has reported losses of nearly $1 trillion, in what constitutes the index’s worst week since early January, as legions of highly valued tech stocks see notable declines in market capitalization.
Continuing the trend of several challenging months for the notable exchange, the Nasdaq closed on Thursday evening $982 billion lower than it opened on Monday, driven by massive losses for big tech.
Among the most notable of these is Apple’s loss of about $200 billion, which knocked the tech company from its perch as the world’s most valuable company for the first time since 2020, falling behind Saudi Aramco, which has grown in recent months because of oil scarcity.
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