Doesn't work that way. "Market value" isn't a count of funny-looking pieces of paper, or the total weight of various commodities. It's a popular consensus of th

Doesn't work that way. "Market value" isn't a count of funny-looking pieces of paper, or the total weight of various commodities. It's a popular consensus of the power to command future use of resources. It's a general I.O.U. If the market says I'm worth $100, then everyone is agreeing that sometime in the future I'll probably be able to request a certain amount of resources in exchange for passing on control of the I.O.U. So the market may say I can get ten hamburgers, or get four suits dry-cleaned. Changes in total market value happen when that consensus changes. If everyone realizes I'm only going to be able to get five hamburgers, or two suits, then I've lost 50% of my worth. If the market decides everyone is in the same boat, then the market has lost 50%.