Amid turmoil in markets throughout the globe due to China fears and low oil prices, the losses of the S&P 500 Index have exceeded $1 trillion in the first 12 days of 2016, with technology companies like Google, Facebook, Intel and Yahoo leading the decrease.
According to a statement from S&P Dow Jones Indices, the market value of the S&P 500 decreased $1.04 trillion. Google shares lost $508 billion in value, the leading company in this drop, followed by Facebook with $281 billion and Intel with $154 billion.
The decrease in oil prices nearing the lowest level in the last 12 years have also contributed in decreases to energy shares, further triggering the panic waves in markets. United States-based oil giant Exxon Mobil's shares decreased $310 billion in value since the beginning of the year. Dow Jones' and S&P 500 indices ended the first week of 2016 with 6.19 and 5.96 losses, respectively, marking the worst start to the year in their history. The Nasdaq Technology Index lost 7.26 percent in the same period.