The five biggest tech firms (Amazon, Apple, Alphabet, Facebook and Microsoft) reportedly lost a combined $416.63 billion in value as the markets continued to crater on coronavirus fears and economic uncertainty.

Shares of Apple (AAPL) plunged 9.88%, Facebook (FB) fell 9.30%, Alphabet (GOOGL) dropped 8.2%, Amazon (AMZN) fell 7.98% and Microsoft (MSFT) dropped 9.48%, as investors continued to worry about the spread of coronavirus and its potential impact on the economy, CNBC said.

They had been among the biggest contributors to the market’s extended rally that lifted the S&P 500 to a record just last month, CNBC said.

It was a bigger drop than on Monday, when the big five lost a combined $320 billion before recovering some of those losses during the week.

In a week that brought the wildest market swings since the financial crisis, Thursday hammered investors with something crazier -- a 10% drop in the Dow, the end of the longest bull market on record and the biggest sell-off since 1987’s Black Monday.

At the end of the day, the S&P 500 smoldered 27% below records set barely three weeks ago and wiped out all its gains since the end of 2018. The news was even worse overseas: Europe’s benchmark index suffered its worst day in history. Brazil’s Ibovespa tumbled as much as 20%, extending this year’s loss to almost 50% in dollar terms. Canada’s main gauge was off more than 12%, its worst day since 1940.

President Donald Trump finally offered some attempt at fiscal stimulus, but the measures fell flat. The European Central Bank took a stab by easing capital constraints and boosting liquidity, and losses only deepened.

Not even an unprecedented plan for $5 trillion in bond-buying from the Federal Reserve could mollify investors rattled by the growing likelihood that the coronavirus will plunge the global economy into recession.

However, Trump said he expects markets to recover from the mounting losses caused by the coronavirus outbreak that has killed thousands worldwide and crushed industries including airlines and hotels, Bloomberg reported.

“It’s going to all bounce back and it’s going to bounce back very big,” Trump said Thursday at the White House during a meeting with Ireland Prime Minister Leo Varadkar.

Material from Bloomberg and Reuters has been used in this report.

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