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U.S. stock market loses $5 trillion in value in three weeks (www.cnbc.com)

submitted 1 day ago by [email protected] to c/[email protected]

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Summary

The U.S. stock market has lost over $5 trillion in value in three weeks as the S&P 500 fell 10% from its record high.

The decline, driven by concerns over Trump’s trade policies and slowing economic growth, has led to weaker consumer sentiment and cautious corporate outlooks.

Barclays strategist Emmanuel Cau noted rising uncertainty among investors.

The selloff has also hit AI-related stocks, with Nvidia down 17% and the Magnificent Seven ETF falling 16%.

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[–] [email protected] 32 points 1 day ago* (last edited 1 day ago) (1 children)

Numbers like this really put the £36 trillion sitting liquid in tax havens into perspective. If you think about what "money" is supposed to represent as a social construct, all the efforts and suffering in it's name, I call that £36 trillion the "Well of Souls."

[–] [email protected] 8 points 1 day ago (1 children)

Imagine if even half of that money had been distributed to the people who earned it by working hard.

[–] [email protected] 3 points 18 hours ago

An almost unnoticeable 1% of that is £360 billion, imagine what could be done with just that! Half would probably propel humanity forward, says everything you need to know about these wealth hoarders.