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Traders work on the floor of the New York Stock Exchange (NYSE) at the start of the trading day in New York.
The stock market rout is starting to get really expensive — destroying $2.3 trillion from the market's top last year and $1.5 trillion in net wealth just this year.
The giant companies that predominantly populate the Standard & Poor's 500 have fallen an average of 8.9% this year — which, when translated into dollars, is real money. Real big money. The S&P 500 is down 8% this year already — including another 2.2% Friday — in what's been the worst start to a year ever. Since the market peak on May 21, 2015, the market has declined 11.7%.
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The biggest wealth destroyers in the S&P 500 from the high have been gadget makerApple (
AAPL), pipeline company Kinder Morgan (
KMI) and corporate software company Oracle (
ORCL) — crushing $218 billion, $63.5 billion and $49.8 billion in market value, respectively, from the May 21, 2015, top.
S&P 500 Stocks That Destroyed The Most Shareholder Wealth From The May 21, 2015, Top
Company, Symbol, % lost from high, $ market value erased from the high ($ billions)
Apple,
AAPL, -26%, -$218
Kinder Morgan,
KMI, -69.5%, -$63.5
Oracle, ORCL, -22.8%, -$49.8
Walmart,
WMT, -18.7%, -$47.3
Berkshire Hathaway,
BRKA, -12.7%, -$45.6
Source: S&P Capital IQ, USA Today
This year, most of the money is being shredded by the giant companies that many U.S. investors loaded up on during the bull, including gadget maker Apple, online retailerAmazon.com (
AMZN) and online advertising firm Alphabet (
GOOGL).
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