Despite a broad sell-off in technology equities, Apple has lost its title as the world’s most valuable firm.

For the first time in almost two years, Saudi Arabian oil and gas firm Aramco has reclaimed the top rank from Apple.

Investors have been dumping technology stocks in order to transfer their money into less hazardous assets.

Bitcoin, along with other major cryptocurrencies and digital assets, has continued to plummet.

Apple’s stock dropped more than 5% in New York on Wednesday, valuing the company at $2.37 trillion (£1.94 trillion) at the conclusion of the day.

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