‘Magnificent seven’ tech stocks tumble a whopping $280B as crypto surges By Cointelegraph
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More than $280 billion has been wiped from the “magnificent seven” tech stocks following the release of several earnings reports on Oct. 25, triggering fears of a looming tech recession.
The so-called “magnificent seven” refers to the top seven blue-chip tech firms including Apple (NASDAQ:), Microsoft (NASDAQ:), Meta (NASDAQ:), Amazon (NASDAQ:), Alphabet (NASDAQ:), Nvidia (NASDAQ:), and Tesla (NASDAQ:) — who combine to make up a quarter of the value of the S&P 500 index.
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More than $280 billion has been wiped from the “magnificent seven” tech stocks following the release of several earnings reports on Oct. 25, triggering fears of a looming tech recession.
The so-called “magnificent seven” refers to the top seven blue-chip tech firms including Apple (NASDAQ:), Microsoft (NASDAQ:), Meta (NASDAQ:), Amazon (NASDAQ:), Alphabet (NASDAQ:), Nvidia (NASDAQ:), and Tesla (NASDAQ:) — who combine to make up a quarter of the value of the S&P 500 index.
Continue Reading on Cointelegraph
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