Tech stocks lose more than $1 trillion in value in three days

Dusseldorf The sell-off in stock markets is hitting even the largest companies with full force. Tech giants like Apple, Microsoft and Amazon have lost more than $1 trillion in market value over the past three trading days, according to data from the financial service Bloomberg.

“We are seeing a sell-off across all asset classes. You see that relatively seldom and it is a typical sign of a crisis,” explains Volker Brühl, Managing Director of the Center for Financial Studies at Frankfurt’s Goethe University. “Currently everyone is trying to take profits while there are still profits.” Since there is not enough demand to counteract this, prices are falling.