Amazon became the first U.S. company to lose more than $1 trillion in market value during a 2022 sell-off.
Amazon crossed that loss threshold on November 9, 2022, when its share price fell amid a broad technology-stock decline. The calculation compared the company’s market capitalization with its record high, rather than describing a literal withdrawal of $1 trillion in cash.
Higher interest rates were a major factor behind the 2022 sell-off. When rates rise, investors often assign lower present values to expected future earnings, which can affect rapidly growing companies especially sharply. Amazon also faced concerns about consumer demand and the cost of expanding its logistics network.
This record concerns a change in market value, not operating losses of the same size. Amazon continued to generate substantial revenue through online retail, cloud computing, advertising, and subscription services.