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Billionaires lose combined $277b in one day from Trump tariffs.
The drop is the largest since the height of the Covid-19 pandemic. Read more at straitstimes.com. Read more at straitstimes.com.
Meta was the standout winner among the Magnificent Seven index of megacap tech stocks from New Year’s Day through mid-February, riding nearly a month of consecutive gains to add more than US$350 billion in market value. Shares of Shopify, which generates much of its revenue from sales of imported goods, fell 20 per cent in Toronto as the S&P/TSX Composite Index suffered its worst day since March 2020. Mr Arnault’s LVMH, a conglomerate which owns brands, including Christian Dior, Bulgari and Loro Piana, saw its shares fall in Paris, wiping US$6 billion off the net worth of Europe’s richest person.
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