The S&P 500 alone wiped out roughly $3 trillion in market value within a single trading session.

Just a day after the post-election relief rally, Wall Street suffered one of its most violent sessions in years, with S&P 500 companies wiping out roughly $3 trillion in market value as the Nasdaq posted its steepest daily drop since the pandemic era.

The scale of the destruction also produced a rather intriguing comparison: more value disappeared from US stocks in one session than the entire cryptocurrency market is currently worth.

Wall Street Calamity

According to the Kobeissi Letter, the S&P 500 alone lost about $3 trillion in market capitalization during Thursday’s…