Powell erased $78 billion from richest Americas

Per Bloomberg:

In eight minutes, Federal Reserve Chair Jerome Powell sparked a market rout that slashed the fortunes of America’s richest people by $78 billion.

Elon Musk’s saw $5.5 billion erased from his wealth. Jeff Bezos lost $6.8 billion. The fortunes of Bill Gates and Warren Buffett declined by $2.2 billion and $2.7 billion, respectively, while Sergey Brin’s was knocked below $100 billion.