- Microsoft is left as the only US company worth more than $US1 trillion after the coronavirus hammers the economy.
- Apple, Amazon, and Google parent firm Alphabet have all had their market capitalizations fall to below the $US1 trillion mark in the recent stock market rout.
- Trump has publicly mulled pulling back on public health measures that could contain the coronavirus to help restore the economy.
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Microsoft is now the only company in the US with a market capitalisation of more than a trillion dollars, after stocks continued to dive in response to the coronavirus pandemic.
At the close of markets on March 23, Microsoft’s shares were worth a total of $US1.034 trillion according to Nasdaq’s official listing. Microsoft became the third US company to pass a market cap of $US1 trillion in April 2019.
Apple, Amazon, and Google parent firm Alphabet all had market capitalizations in excess of $US1 trillion as recently as last month, but the economy-wide wipeout has cost them that symbolic position.
As of close of market on Monday, here are their market capitalizations:
- Apple: $US981.726 billion
- Amazon: $US947.249 billion
- Alphabet: $US725.39 billion
The plummeting stock market has prompted Congress to propose a massive stimulus for the US economy.
However, a bill to enact the measures stalled in the US Senate after Democratic senators declined to vote for it, arguing that it did too little to help ordinary people.
On March 23, Trump publicly mulled pulling back on public health measures to contain the coronavirus in order to support the stock market.
Stocks rallied in Europe and Asia on Tuesday morning after the Federal Reserve unveiled new measures to protect the economy, though they were tempered by the Senate actions. This means US stocks seem poised for a positive open.