The sum wiped off the MSCI All-Country World Index .MIWD00000PUS - about one seventh of its value - is almost equivalent to the size of combined economies of Italy, Spain, Portugal, Ireland and Greece.
The sell-off this week knocked nearly $1.6 trillion off the market capitalization of the global benchmark after last week's $2.5 trillion loss.
The valuation of the benchmark is currently $24.84 trillion.
The U.S. S&P 500 markets/index?symbol=us%21spx">.SPX alone has lost more than $710 billion this week after losing $850 billion the previous week, while European shares measured by the MSCI Europe .MSCIEU have lost almost $500 billion this week.
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