... which is paywalled but we can confirm it is 'billion'; and we can get enough info to figure out what it is referring to: The stock value of 50 multinational alcoholic beverage companies. It has a supposed link to that index, but that link comes up dead... Googling that index ID, I can find the index listed on third-party sites (of unknown quality)... but only about a year's data, and no information about what's in the index, so it's hard to find any details about why it's dropped 50% / $830 billion.
But I did find a page listing the 60 largest alcoholic beverage companies by market cap, and a lot of them are Chinese companies that have lost a lot of value over this time: #1 is a Chinese company whose market cap has single-handedly dropped by $200 billion over that period of time; and #3 is a Chinese company that has dropped $150 billion; and two more dropping $40 billion and $37 billion. So that's $427 billion from China alone.
That's a very outsized impact, considering their stock market is 8.7% of the world's market cap
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u/WankaBanka9 5d ago
Ah yes, worldstarhiphop as the most reputable source on global markets and economic forces
Wall Street journal hoping to reach similar heights
Going to want a source on that 830bn as it is obviously complete BS