Amazon becomes first public company to lose $1 trillion in market value

and cloud company fell as much as 4.6 per cent on Wednesday, pushing its market value to about US$878 billion from a record close at US$1.882 trillion on July 2021. Amazon and Microsoft Corp. were neck-and-neck in the race to breach the unwelcome milestone, with the Windows software maker close behind after having lost US$900 billion from a November 2021 peak.

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Can't lose a trillion if you didn't have a trillion.

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