what does it mean by $2.9 trillion wiped away due to losses in Stock market. Where did it go?

Question

Where did the money actually go? Are these small startups or individuals that have gone bankrupt that totalled this amount ?

In: Economics

Answer 1

The real question is really, where did it come from in the first place. Stock market is based on perception and expectations. That full 2.9T has never been put in either.