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‘Unstoppable until they aren’t’: are tech market losses signs of a bust?

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theguardian.com

Jeff Bezos knew this day was coming. Back in April the Amazon boss warned of an impending market slowdown, tweeting that the epic tech boom experienced during the last two years could not last for ever.“Most people dramatically underestimate the remarkableness of this bull run,” he said. “Such things are unstoppable … until they aren’t.“Markets teach,” Bezos added. “The lessons can be painful.”For years the tech industry has led the stock market with bust-out profits, fueled by a pandemic that moved much of the world online.

Now all that has changed, with trillions in market value lost in recent weeks. Once-hot startups are being ditched by investors, and even the tech giants seen as stable investments have faltered.Apple is no longer the most valuable company in the world, after losing $200bn in market value this week.

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