Magnificent 7 wipeout: The market's favorite stocks are getting crushed today
- The Magnificent Seven stocks are getting hammered on Monday as part of a broader sell-off.
- All seven tech darlings were down Monday morning, dragging the Nasdaq Composite 3% lower.
- US stocks are fresh off their worst week in six months as tariff jitters hit AI names.
The market’s favorite tech stocks keep on losing.
The group known as the Magnificent 7 — considered the most popular high-flying names in the US stock market — slid deeper into the red on Monday. The latest move came as President Donald Trump refused to rule out a recession during a TV appearance.
The tech-heavy Nasdaq 100 fell 3%, moving deeper into correction territory. Meanwhile, the S&P 500 — fresh off its worst week in six months — declined 2%.
Investors have been rattled by uncertainty over Trump’s trade policy, with the president’s recent tariffs fueling concerns that the US economy may not be on as strong footing as markets originally thought.
Those worries are exacerbating a sell-off tech stocks weathered earlier this year, after the Chinese startup, DeepSeek, created an AI model that rivaled ones in the US using cheaper chips, which sparked concern that the US could be losing its competitive edge in the artificial intelligence space.
Here were the intraday-low moves for the Magnificent Seven stocks on Monday, listed in order of biggest to smallest:
Tesla: -9.5%
Meta: -6.2%
Alphabet: -5.9%
Nvidia: -5.8%
Apple: -5.8%
Amazon: -4.2%
Microsoft: -3.7%