$2.1 trillion erased from U.S. stocks in 6 days
By?Matt Egan | August 26, 2015: 4:32 PM ET

The American stock market has surrendered a stunning $2.1 trillion of value in just the last six days of market chaos.

The enormous losses reflect the deep fears gripping markets about how the world economy will fare amid a deepening economic slowdown in China.

The?Dow,?S&P 500?and?Nasdaq?have all tumbled into correction territory, their first such 10% decline from a recent high since 2011.

The S&P 500 — the best barometer for the biggest U.S. companies — has lost trillions of market value in the six-day selloff through Tuesday, according to S&P Dow Jones Indices.

To put those losses into perspective, that’s roughly equal to the combined market value of these corporate titans put together:?Apple?(AAPL,?Tech30),?Google?(GOOGL,?Tech30),?Berkshire Hathaway(BRKA),?ExxonMobil?(XOM),?Facebook?(FB,?Tech30),?Walmart?(WMT)?and?21st Century Fox?(FOXA).

Here’s another way to look at it: It’s like erasing almost the entire value of the British version of the S&P 500. Known as the S&P BMI U.K. Index, it is worth just $2.8 trillion.

“The current stock market selloff has spurred flashbacks for previous financial crises,” Merrill Lynch chief investment officer Christopher Hyzy wrote in a research report on Tuesday.

2014, 2015 gains wiped out 

The heart stopping part of  the market slide occurred on Monday, with the?Dow’s unprecedented 1,089-point decline?just minutes after the opening bell.

The recent turmoil has wiped out not only 2015′s stock market gains but nearly all of 2014′s as well. The?Dow?ended Tuesday at the lowest level since February 2014.

The dramatic retreat on Wall Street has been fueled by serious concerns about the fallout of China’s economic slowdown. While everyone already knew China’s economy was no longer enjoying explosive growth, investors have seized on possible new signs the slowdown is more serious.

China’s market shocks, economy questions

China’s stock market imploded?earlier in the summer. It wasn’t clear if it was simply the bursting of a stock market bubble or a red flag about deeper issues in China’s economy.

And then China shocked markets by?devaluing its currency,?the yuan, on August 11. The move smacked some as a desperate attempt to boost exports by making its goods cheaper to foreign buyers.

Fears deepened last week when a key gauge of?Chinese manufacturing activity plummeted to the lowest level since the global financial crisis. All of this has had the combined effect of sending the Chinese stock market down over 40% just in the last two months.

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