World’s Richest Lose $100 Billion in Week of Stock Drops
U.S. stocks suffered their worst losses in years last week. Among the biggest losers were the world's top billionaires.
Financial experts blamed the first major drop last Monday on investor fears over possible rising inflation and higher interest rates. The Dow regained some ground, but then suffered another drop on Thursday after reports of an increasing U.S. government budget deficit.
The Dow Jones Industrial Average, also known as the Dow, is a stock market index of 30 large companies based in the U.S.
The losses followed a long period of gains in U.S. stocks when the Dow reached a historic high of 26,616 on January 26.
In repeated tweets and in his recent State of the Union address, U.S. President Donald Trump praised the financial gains. "The stock market has smashed one record after another, gaining $8 trillion and more in value in just this short period of time," he said.
At first, Trump remained silent on last Monday's losses. But he took to Twitter later on Wednesday to comment.
"In the ‘old days,' when good news was reported, the Stock Market would go up," he wrote. "Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!"
Many financial experts have said the big stock drops were not that unusual after the recent gains. They have called the major drops a "correction" in the stock market. A correction is defined as at least a 10 percent drop in stocks since the previous peak.
Analysts expected stocks in many other parts of the world to also have their worst week in years, Reuters news agency reported. Asian markets suffered big losses during the week, including a four percent drop in Chinese stocks on Friday.
European stocks also fell, but not as much as markets across Asia. Bloomberg reported that recent worldwide sell-offs had removed at least $5 trillion from global stocks since January.
The losses affected the values of companies and the holdings of many American investors.
The world's billionaires lost a combined $114 billion on Monday alone, according to Bloomberg's Billionaires Index. A total of 18 billionaires in the rankings lost more than $1 billion on the day.
The biggest loser on Monday was businessman and investor Warren Buffett, whose worth on paper dropped by $5.1 billion. Bloomberg ranks Buffett as the third richest person in the world. His current total net worth is listed at $82.6 billion.
Facebook CEO Mark Zuckerberg lost the next largest amount, $3.6 billion. He is number four on the richest people list, with a current net worth of $70.8 billion.
Amazon CEO Jeff Bezos – listed as the richest person in the world – lost $3.2 billion. But unlike the others, he is currently still way up for the year to date, by at least $14.2 billion. His overall net worth is now estimated to be $113 billion.
Microsoft founder Bill Gates – who holds the number two position on the wealthiest list behind Bezos – lost $2.2 billion.
And the top executives for Google's parent company Alphabet – Larry Page and Sergey Brin – each lost $2.3 billion, Bloomberg reported.
I'm Bryan Lynn.
1.interest rate 利率
Investment is a function of the interest rate.
2.net worth 净值
Maybe I value my time more than my net worth.
3.stock market 股市
The stock market's precipitous drop frightened foreign investors.
4.go up 上涨；增长
The slope increases as you go up the curve.
5.The losses followed a long period of gains in U.S. stocks when the Dow reached a historic high of 26,616 on January 26.
a long period 长期的
This crisis might last for a long period of time.
The result of this experiment was not noticeable for a long period.
6. "Today, when good news is reported, the Stock Market goes down.
goes down 下跌；降落
Water becomes solid when the temperature goes down to zero.
As the cost of living goes up, my standard of living goes down.
上周，美国股市遭遇了近年来最严重的损失 。其中损失最惨重的是全球的亿万首富们 。
金融专家将上周一股市首次出现的大幅下跌归咎于投资者对通胀上升和利率上涨的担忧 。随后，“道琼斯指数”有所回升，在美国政府财政赤字上升的报告出台后，周四美国股市再次暴跌 。
美国总统特朗普在多条推文和近期的国情咨文中均称赞了这一经济收益 。他说：“股市如此短的时间内屡创新高，新增了超过8万亿美元的价值 。”
他写道：“‘过去’，一般有捷报传出，股市就会上涨 。而今天有好消息传出时，股市却出现了下跌 。这是大型的失误，我们在经济方面喜讯频传 。”
很多金融专家曾表示，以最近的涨幅来看，股市暴跌并不奇怪 。他们称，这次大跌是股市的“回调” 。“回调”是指股票创下峰值后至少会下跌10% 。
据路透社报道，分析师预计，全球其它地方的股市也遭遇了近年来最惨重的一周 。本周，亚洲股市也遭受重创，包括上周五中国股市下跌4% 。
欧洲股市也出现下跌，不过跌幅小于亚洲各国股市 。据彭博社报道，自今年1月以来，全球近期发生的大跌已经导致全球股市缩水至少5万亿美元 。
据“彭博社亿万富翁指数”显示，全球亿万富豪们仅周一就损失了1140亿美元 。上榜的18位亿万富翁在当天损失超过了10亿美元 。
周一，损失最惨重的是商人和投资家沃伦·巴菲特（Warren Buffett），他的账面财富缩水了51亿美元 。彭博社将巴菲特列为全球第三大富豪，其目前的净资产为826亿美元 。
其次是Facebook首席执行官马克·扎克伯格（Mark Zuckerberg），损失了36亿美元 。作为全球第四大富豪，他目前的净资产为708亿美元 。
世界首富亚马逊首席执行官杰夫·贝索斯（Jeff Bezos）损失了32亿美元 。与其他富豪不同的是，到目前为止，他的财富仍在增长，至少达到142亿美元 。据估计，他目前的净资产总值为1130亿美元 。
微软公司创始人比尔·盖茨（Bill Gates）在全球富豪榜上仅次于贝索斯，他此番损失了22亿美元 。
谷歌母公司Alphabet的高管拉里·佩林（Larry Page）和谢尔盖·布林（Sergey Brin）各损失了23亿美元 。