Reported 2 months ago
Apple and Nvidia led a significant sell-off in technology stocks, marking a downturn in the so-called Magnificent Seven companies which include Alphabet, Amazon, Meta Platforms, Microsoft, and Tesla. Concerns over a potential U.S. recession and Berkshire Hathaway's recent decision to reduce its Apple stake contributed to a loss of nearly $1 trillion in market value. This decline followed a weak U.S. payrolls report and ongoing fears about delayed returns on substantial AI investments.
Source: YAHOO