wiped is used as the practice was to write the price of the shares on a white board type of thing before computers were really used and then when the price fell, the value was ''wiped'' off the board, and before whiteboards, blackboards and chalk were used with the same expressions hence the term ''millions wiped off the value''
in a bear market (a downward heading market that has lost at least 20% in a min of 2 months, (yawn!!)) when shares go down they often get rid of the previous prices completely so it is less likely others will know what has been lost. in a bull market, (upward) the previous closing price is usually kept to show what you have gained.
so therefore when prices go down, you ''wipe'' away/off the price but when going up, you ''add' to the price = millions added to the share price against millions wiped off.
but you are right, there are more headlines in a bear market than a bull market as bears signal doom and gloom, which is what a lot of newspapers exist on!!
I suppose my objection is that the term "wiped off" implies that it was all an unfortunate accident and that we should feel sorry for the companies this happens to. Whereas there is no equivalent terms that implies that the value of the stock has risen for equally spurious and undeserving reasons.
I can't explain - and probably haven't done so very well - why this niggles. It just does.
ah, I see what you mean now, and yes I agree too, these poor banks companies that do no wrong, and then they have their values destroyed for no reason in a blink of a mouse, its not fair is it, where will the next junket, beano or kneees up come from and how will it be paid for?