More than $7 trillion has been wiped out from the stock market this year
CNN
Somebody cue the stock market's park ranger: Bears are having a picnic on Wall Street this year.
The meltdown of 2022 has wiped out more than $7 trillion in market value from the blue chip stocks in the S&P 500. The index is down nearly 19% since the end of December. The Dow, which fell about 450 points Thursday, is down almost 14% as well.
Tech stocks have been hit particularly hard. The Nasdaq has plunged more than 28.5% this year, putting it deep into bear market territory. Nearly $3 trillion of the S&P 500's market cap drop is from the tech sector.
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