The Indian stock market has been witnessing a continuous decline for two days and similar global signals are being received today as well. Actually, there is chaos in the US stock market. From S&P to Nifty, everything is in bad shape and they are in the red mark. Meanwhile, there has been a big decline in the wealth of the world’s top rich people and Elon Musk has suffered the biggest blow.
Biggest drop in global index
First of all, let’s talk about the chaos in the global market, so let us tell you that Nifty was trading at the level of 24,160 with a decline of 0.38 percent. On the other hand, S&P and Nasdaq index have seen the biggest decline since the year 2022. Due to heavy selling on Thursday, S&P 500 has seen a huge decline of 2.31 percent, while Nasdaq has seen a huge decline of 3.64 percent. Talking about Dow Jones, it fell by 1.25 percent.
Tsunami in the shares of these big companies
The reason behind this chaos in the American market can be attributed to the fall in the shares of some of the world’s biggest companies, which have proved to be the villains. At the forefront of this was the electric car company Tesla of the world’s richest person Elon Musk. Tesla’s stock fell by a whopping 12.3 percent and reached the level of $215.99 per share.
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1.81 lakh crores wiped out in one go
The effect of this huge drop in Tesla shares has also been seen on Elon Musk’s net worth and in one stroke, $21.7 billion (about Rs 1.81 lakh crore) was wiped out from his wealth. However, despite this decrease in net worth, Elon Musk continues to hold the number-1 rich position. His total net worth has remained at $241 billion.
Shares from Google to Meta slipped
Not only Elon Musk but the wealth of Jeff Bezos and Boren Waffen has also decreased. Apart from Tesla, the big stocks that have seen a decline include NVIDIA, which has fallen by 6.80 percent and reached $114.25. Apart from this, the share of Meta Platforms fell by 5.61 percent to $461.27. Not only this, the shares of Alphabet Inc., the parent company of the world’s largest search engine Google, slipped 5 percent to $174.37.
The effect can be seen on the Indian market!
Along with America, Japan’s Nikkei 225 fell 2.72 percent, South Korea’s Kospi fell 1.77 percent, Australia’s S&P/ASX 200 fell 0.94 percent and Hong Kong’s Hang Seng fell 0.39 percent. An estimated amount of about 1 trillion dollars was lost amid this chaos. The impact of any movement in the global market is also visible on India and the Indian share market, which has been falling for the last two days, may remain sluggish today as well.
(Note- Before making any kind of investment in the stock market, please take advice from your market experts.)