Lost $490B in a day

The biggest one-day drops in a company's stock market value, ever

Close to close: • Nvidia, 27 Jan 2025: $593B (the day China's DeepSeek scared AI investors) • Alphabet, 29 Oct 2026: $490B • SpaceX, 22 Jun 2026: $401B • Apple, 31 Jul 2026: $358B • Microsoft, 29 Jan 2026: $357B • Nvidia, 5 Jun 2026: $328B • Apple, 3 Apr 2025: $311B (tariff day) • Broadcom, 4 Jun 2026: $287B

All eight happened since January 2025.

Why Alphabet fell about 12%: in July–September it spent $51.4B on data centers and chips, more than the $42.3B of cash its business brought in. Search ad sales also grew more slowly than Wall Street expected. Its cloud business doubled in the same quarter.

It's getting more common. By Yahoo Finance's count (Bloomberg data), a US-listed stock lost $200B or more in one day 0 times in 2019–2021, 13 times in 2025, and 18 times in 2026 before Thursday.

The catch: these companies are the biggest ever, so the same % drop is more dollars than it used to be. Nvidia fell 17% on its worst day; Alphabet fell about 12%. And "lost value" is the price of all shares falling, not cash that left the company.