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.
The "Magnificent 7" companies are expected to report lower earnings growth than the other 493 $SPX companies for Q4 2026. #earnings#, #earningsinsight#,