MAGNIFICENT SEVEN ERASE $1.1 TRILLION IN BRUTAL TECH SELLOFF
The Magnificent Seven are on track to lose $1.1 trillion in combined market capitalization in a single session, as the Nasdaq tumbles into correction territory.
The decline would mark the group's largest one-day market value loss since April 2025 and its second-largest on record.
Tesla is leading the selloff, with shares plunging more than 10%.
Magnificent Seven returns have moderated following their outperformance of the last few years, but other S&P 500 stocks have kept the index steady, according to Matthew Weir in Goldman Sachs Wealth Management’s Investment Strategy Group. One chart tells the story.