Tech Stock Rout Sends Investors Fleeing to U.S. Treasuries - Big Tech Owners Lose $50 Billion in a Day

Add preferred source U.S. September CPI came in hotter than expected, reigniting inflation concerns and triggering a sharp selloff in tech stocks that wiped out more than $50 billion from the fortunes of the world's wealthiest individuals in a single day. Dell Technologies founder Michael Dell saw his net worth plunge by $20 billion after Barclays downgraded the stock, sending shares down more than 11% and dropping him to fifth place on the global rich list. Elon Musk lost $17.6 billion, while Mark Zuckerberg shed $6.2 billion. Meanwhile, investors piled into U.S. Treasuries as a safe haven, with $14 billion flowing into Treasury funds this month. Major institutions including BlackRock and Goldman Sachs have issued positive outlooks on government bonds. Key Elements Michael Dell Dell Technologies Elon Musk U.S. Treasuries U.S. Bureau of Labor Statistics Barclays Federal Reserve BlackRock Sergey Brin Mark Zuckerberg PIMCO PGIM U.S.