Amazon becomes the world’s first public company to lose $1T in market value, shrinking to ~$879B from $1.88T in July 2021; Microsoft lost $889B since Nov. 2021 (Bloomberg)

CNBC:
After surprising inflation data, Nasdaq closes down 5.16%, Nvidia down 9.47%, Meta down 9.37%, Coinbase down 8.84%, Amazon down 7.06%; BTC down 9%+ in 24 hours  —  WATCH NOW  —  Four experts react to August’s key inflation report  —  Stocks fell sharply on Tuesday after a key August inflation report came …

Alyssa Lukpat / Wall Street Journal:
The top 20 tech billionaires globally have lost $480B+ on paper in the past year; Mark Zuckerberg’s wealth drops by $87B+, Elon Musk and Jeff Bezos by $58B+  —  Moguls including Mark Zuckerberg and Jeff Bezos have collectively lost more on paper than the market values of most S&P 500 companies

Lucía Cholakian Herrera / Rest of World:
As annual inflation nears 100% in Argentina, a look at locals’ use of Mercado Pago and other digital wallets to protect their pesos, amid scam and theft issues  —  Payment apps cushion users from a falling peso but won’t protect them from theft.  —  • BUENOS AIRES, ARGENTINA

Kim Jaewon / Nikkei Asia:
Samsung says its Q3 profit dropped 31.7% YoY to $7.7B amid inflation and estimates that revenue for Q3 increased 2.7% to about $53B  —  South Korean tech company may suffer poor earnings in coming quarters  —  SEOUL — Samsung Electronics said Friday that its operating profit likely fell …

IDC:
Global wearables shipments declined 6.9% YoY to 107.4M units in Q2 2022, weighed down by rising inflation and other factors; Apple’s share declined to 25%  —  The wearables market faced another challenging period in the second quarter of 2022 (2Q22) as global shipments declined 6.9% year …

June Yoon / Financial Times:
An in-depth look at the US sanctions on China’s chipmakers and worries over their impact on inflation and rising costs for Western manufacturers and customers  —  The advice “dig two graves, before you set out” applies to anyone bent on revenge.  An old aphorism is hardly going to divert …