S&P 500 drops more than US$7 trillion in market value

The meltdown of 2022 has wiped out more than US$7 trillion in market value from the blue chip stocks in the S&P 500. 
The index is down almost 19% since the end of December. 
The Dow, which fell about 450 points on Thursday, is down almost 14% as well.
Tech stocks have been hit particularly hard. 
The Nasdaq has plunged more than 28.5% this year, putting it deep into bear market territory. 
Shares of tech leaders Apple, Microsoft, Amazon, Google owner Alphabet, Facebook parent Meta Platforms and Tesla are all deeply in red.
Netflix, down more than 70%, is the worst performer in the S&P 500 this year.

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