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Expand chart
Data: GlobalData; Chart: Harry Stevens/Axios

The S&P 500 lost $1.5 trillion in collective market cap since the beginning of last year, according to recent analysis by research firm GlobalData.

By the numbers: 8 out of the S&P's 11 sectors lost market cap value, with companies like Exxon Mobil, Wells Fargo and Walmart seeing their market cap shrink by more than $40 billion. The utilities sector was the only sector to see double-digit market cap growth, with companies like NextEra and Duke Energy gaining $5 billion in value.

  • Interestingly, tech still dominates the S&P by a wide margin, despite losing $90 billion in market cap.
  • The tech sector is 12 times bigger than the smallest S&P sector (which also includes some tech names), Communication Services.

Go deeper: Big Tech's hold on the market might not last

Go deeper

The E-commerce shopping spree

Illustration: Aïda Amer/Axios

Retailers have gotten really good at selling stuff online. So much so, investors want them to separate from the business units that do just that.

Why it matters: Spinning off these crown jewels may jeopardize both the physical and e-commerce sides of the companies in the long run by breaking the benefits of hybrid operations, analysts say.

2 hours ago - World

U.S. envoy to visit Sudan as "most dangerous" crisis intensifies

The sit-in in Khartoum. Photo: Mahmoud Hjaj/Anadolu Agency via Getty

U.S. envoy for the Horn of Africa Jeffrey Feltman will visit Khartoum this week amid what Prime Minister Abdalla Hamdok has called the “worst and most dangerous" crisis of Sudan’s transition to democracy, two sources with direct knowledge tell Axios.

Driving the news: Roughly 2,000-3,000 people had joined a sit-in in Khartoum as of this afternoon, per Reuters, after protesters massed over the weekend to call on the military to bring down the government. The protests came just four weeks after a failed military coup.

Trump sues National Archives, Jan. 6 committee to block records request

Photo: Chip Somodevilla/Getty Images

President Trump filed a lawsuit Monday seeking to block the National Archives from releasing White House records to the House select committee investigating the Jan. 6 Capitol insurrection, citing executive privilege.

Why it matters: It's the latest escalation in Trump's campaign to disrupt the committee's sweeping probe into the circumstances surrounding Jan. 6, including his actions and communications leading up to the Capitol attack.