Tags: techstocks | europeanstockmarket

US Tech Sector Worth More Than Europe's Stock Market

new york stock exchange
Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange (NYSE). (Johannes EISELE / AFP via Getty Images)

By    |   Friday, 28 August 2020 03:22 PM

The U.S. tech sector is now worth in excess of $9 trillion, making it more valuable than the European stock market.

CNBC cited data from Bank of America Global Research that showed the sector has a value of $9.1 trillion. All of the European stocks combined are worth $8.9 trillion.

In 2007, European stocks were worth four times as much as U.S. tech stocks.

The U.S. tech sector has soared in recent years, bolstered by massive gains at Amazon, Facebook, Apple, Alphabet, and Microsoft. Apple is worth more than $2 trillion alone, while Amazon founder and CEO Jeff Bezos is the richest person in the world with a net worth of around $200 billion, according to Forbes. Amazon's stock price is hovering around $3,400 per share.

CNBC noted that the S&P 500 has gone up nearly 200% since 2010. During that same time, the Euro Stoxx 50 rose 13.4% and the FTSE 100 in England went up around 11%.

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StreetTalk
The U.S. tech sector is now worth in excess of $9 trillion, making it more valuable than the European stock market.CNBC cited data from Bank of America Global Research that showed the sector has a value of $9.1 trillion. All of the European stocks combined are worth $8.9...
techstocks, europeanstockmarket
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2020-22-28
Friday, 28 August 2020 03:22 PM
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