Alphabet's October wipeout hits $766 billion, its worst month ever
FROM THE WIRE · FINANCE.YAHOO.COM
Big Tech's brutal week had one clear epicenter. At its low Friday, Alphabet (GOOGL) had lost $477 billion in market value for the week, more than SpaceX, Intel, Nvidia and Amazon combined. That would be the Google parent's worst week ever and the second-biggest weekly wipeout…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA mega-cap losing this much market value weighs on the tech sector and on major indices.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Alphabet lost $477 billion in market value over the week, more than SpaceX, Intel, Nvidia and Amazon combined.
- 02Most of the damage came Thursday, when Alphabet lost $475 billion in a single session after its third quarter results.
- 03At Friday's low, Alphabet had shed about $766 billion in market value in October, the second-biggest monthly loss ever.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Alphabet Inc.279.09 USDMarket closedtoday -1.67%Negative Alphabet Inc.277.32 USDMarket closedtoday -1.77%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets