Tesla was particularly battered as it joined Apple (-3%) and Nvidia (-3%), as American multinational companies with the highest proportion of sales in China.

On Jan. 27, Nvidia ( NVDA -2.84%) fell 17%, erasing over $590 billion from its market cap. It marked the greatest single-day market-cap destruction for a company in U.S. stock market history. While the growth stock recovered nearly half of those losses the following day, there are still lessons to be learned from this historic market event.