The Magnificent Seven group — Microsoft Corp.(NYSE:MSFT), Apple Inc.(NASDAQ:AAPL), NVIDIA Corp., Alphabet Inc., Amazon Inc.(NASDAQ:AMZN), Meta Platforms Inc.(NASDAQ:META) and Tesla, Inc.— wiped out over $570 billion in their combined market valuation by midday trading in New York.
Wall Street experienced a turbulent session on Wednesday, with the S&P 500 index heading toward its worst performance in over a year and the tech-focused Nasdaq 100 eyeing its fifth decline in the last six sessions.
The Roundhill Magnificent Seven ETF (NYSE:MAGS) fell 4.9%, marking the worst daily performance since the fund’s inception last year.
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