Amazon Is The First Company Ever to Lose $1 Trillion in Value

This week Amazon becamefirst public company ever to lose over $1 trillionin value.

By market close Friday, Amazon’s market cap had already perked back up, topping $1.02 trillion.

But the record it set Wednesday will live on.

Other sectors are hurting too.

Video game sales areexpected to fall overall in 2022.

Amazon CEO Andy Jassy recently launched a cost-cutting review of the company,The Wall Street Journal reportedThursday.

That apparently includes suspending or eliminating unprofitable projects and reassigning employees.

Amazon did not respond to request for comment.