Where did the money actually go? Are these small startups or individuals that have gone bankrupt that totalled this amount ?
In: Economics
It went to paper heaven. In reality the value did for stocks and the stock market is the estimated value similar to the appraised value of a house. It is what people think it is worth. The actual value isn’t set till the stock is sold. So with all the uncertainty around the economy the estimated value of multiple stocks went down a total of roughly 2.9 trillion. And if you looked into more detail you will probably find several groups and people bought those stocks at the discounted rate fully expecting the estimated value to go back up and make even more money when they again sell them in the future.
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