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

it’s “paper losses”

i bought 1 share of XXX at 10/share

last week xxx was worth 13……my total value is 13

this week xxx is worth 11….my value is 11 = WIPED OUT