Amazon.com Inc. lost a trillion dollars in market value this year due to increasing inflation, tighter monetary policy, and poor earnings reports.
The e-commerce and cloud company's market valuation declined 4.3% on Wednesday to $879 billion from $1.88 trillion on July 2021. After losing $889 billion from a November 2021 high,
Microsoft Corp. trailed Amazon in the race to achieve the unwanted milestone.
This year, the biggest online retailer adjusted to a dramatic slowdown in e-commerce growth as buyers returned to pre-pandemic habits. Due to falling revenues, rising
expenses and rising interest rates, its shares have plunged approximately 50%. According to Bloomberg statistics, co-founder Jeff Bezos has lost $83 billion to $109 billion since the start of the year
Amazon predicted its worst Christmas quarter sales increase last month as buyers cut down due to economic uncertainties.