They Are Calling It “The Tech Bloodbath” – 10 Facts About This Tech Stock Crash That Will Take Your Breath Away

Tuesday, July 31, 2018
By Paul Martin

By Michael Snyder
TheEconomicCollapseBlog.com
July 31, 2018

Thanks to crashing tech stocks, Americans have lost hundreds of billions of dollars in paper wealth over the past three trading days. As you will see below, we have just witnessed “the biggest market cap loss in history”, and many analysts believe that this is only just the beginning. At this point, even the mainstream media is fearing the worst. CNN is boldly proclaiming that “the tech bloodbath is here”, and there is a flood of mainstream articles giving advice to investors about how to ride out this crisis. But the amount of money that has already been lost is absolutely huge, and it isn’t going to take much to turn this panic into a full-blown stampede. In a lot of ways, what we are watching is very reminiscent of 2001. When the original tech bubble burst, the crash was so rapid and so dramatic that many ordinary investors were not able to react in time. As I have explained so many times before, markets tend to go down a whole lot faster than they go up, and the events of the last three trading days have been completely breathtaking.

A lot of people are responding as if this tech stock crash is a complete surprise, but the truth is that it shouldn’t be a surprise at all.

The only surprise is that the bubble lasted for as long as it did.

Even after the declines of the past three days, some of these tech companies still have some of the most absurd valuations that we have ever seen. There has been warning after warning that something like this could happen, but the optimists on Wall Street wanted to believe that the party would never come to an end.

Well, now the party is ending, and people are starting to understand the gravity of what we are facing. The following are 10 facts about this “tech bloodbath” that are almost too crazy to believe…

#1 The 10 leading U.S. tech companies lost an astounding 82.7 billion dollars in stock value on Monday.

#2 Overall, FANG stocks have lost 220 billion dollars in stock value over the last 3 trading days. According to Zero Hedge, that represents “the biggest market cap loss in history”.

#3 Last Thursday, Facebook had the worst day for a single company in the history of the stock market.

#4 The amount of money that Facebook investors have lost is greater than the entire market value of some of the biggest corporations in America…

The gargantuan one-day loss in the social media company’s market value eclipses the total value of warehouse club Costco, drug maker Bristol-Myers Squibb, investment powerhouse Goldman Sachs, defense contractor Lockheed Martin and credit-card company American Express, according to Bloomberg data.

The wealth destroyed also is more than the total value of farm equipment maker Caterpillar, home-improvement retailer Lowe’s, coffee seller Starbucks and drugstore chain CVS.

The Rest…HERE

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