World's 500 Richest lose $35 Billion in a Day

Thu May 18 2017 21:37:38 GMT+0530 (IST)

US Stocks fell sharply during Wednesday-afternoon trading after the reports of president Donald Trump directing FBI to end probe into allegations against Former National Security Adviser Michael Flynn surfaced.  

Bill Gates who is World's Richest lost $1 billion after Microsoft shares fell by 2.8 percent. Amazon's Jeff Bezos slipped to 3rd Position after losing 1.7 billion.  

Financial Stocks which kept growing since US Presidential election were badly hit. Even Banks have been affected by the negative trend. Bank of America lost 5.9 percent. All these led to the fall of Dollar.

Traders preferred Gold, Bonds and Utilities as the safe bet during this period. Hence, These stocks have soared.