Mark Zuckerberg is nursing the biggest fall after losing $3.2 billion as large cap stocks disappointed for a fourth straight day.
It’s been an expensive week for the world’s richest people. Mark Zuckerberg is nursing the biggest fall after losing $3.2 billion as large cap stocks disappointed for a fourth straight day. Losses for the Facebook Inc. chief executive officer topped those of Spain’s Amancio Ortega and Mexico’s Carlos Slim, who were both down $2.4 billion as of 1 p.m. in New York. The fortunes of Alphabet Inc.’s Larry Page and Sergey Brin each dwindled more than $2 billion on the Bloomberg Billionaires Index since markets opened on Monday.
The world’s 500 richest people have lost a combined $107 billion this week, more than the entire market capitalization of Goldman Sachs Group Inc. or Lockheed Martin Corp. The wealth of U.S. billionaires fell the most, declining a combined $34 billion. Chinese tycoons saw $16 billion erased. The Dow Jones Industrial Average has slid about 3.5 percent this week as President Donald Trump invited a trade war and Federal Reserve Chairman Jerome Powell fueled speculation the central bank plans to quicken the pace of monetary tightening.
- Nifty may hit 15,400 in medium term; BFSI, infra sectors, HDFC, RIL, Titan stocks look strong on charts
- Gold, silver rates surge for second week straight; expect bullion prices to continue rallying
- Nifty may trade in 14,400-15,000 range this week, Bank Nifty below 20, 50, 100 day SMAs; Wipro, Cipla in focus