Tech stocks had a rough day today, with some major names seeing sharp declines. Palantir dropped the most, falling 8%, followed by AppLovin and Robinhood, both down 7%. Tesla slid 6%, while Nvidia lost 5%. AMD, Broadcom, and Amazon each fell around 3%, and Meta and Alphabet were also in the red, down 2% and 1% respectively.
In total, the top tech giants—often referred to as the “Magnificent 7”—have lost about $350 billion in market value since Friday. With the Nasdaq 100 index now just 5% away from entering a bear market, investors are starting to worry that more trouble could be ahead for tech stocks.
Be First to Comment