Stock Market Today: Dow scores new record close as expectations grow for jumbo rate cut
Big Tech stocks were trading mixed Monday, with sharp declines in shares of Apple Inc., Nvidia Corp. and Tesla Inc. weighing on an exchange-traded fund that focuses on that heavyweight corner of the U.S. equities market.
The RoundHill Magnificent Seven ETF — which holds seven so-called Big Tech stocks including Apple, Nvidia, Tesla, Microsoft Corp., Google parent Alphabet Inc., Amazon.com Inc. and Facebook parent Meta Platforms Inc. — was trading down 0.9% on Monday afternoon.
Apple was down 2.8%, while Nvidia dropped 2.2% and Tesla shed 1.2%, according to FactSet data, at last check. Shares of Amazon were down 0.7% in afternoon trading, while Microsoft was trading about flat.
Meanwhile, Alphabet was posting a modest gain of 0.2%, while Meta was up a sharp 1.3% Monday afternoon, FactSet data show, at last check.