The 'Magnificent 7' stocks are struggling, shedding a staggering $1.2 trillion in market value since US equities peaked in July

Fri, 10/27/2023 - 07:30

The Magnificent Seven — The "Magnificent 7" stocks have plummeted since the S&P 500 peaked at the end of July.
Sony Pictures

After a stunning first-half rally, the so-called "Magnificent Seven" mega-cap Big Tech stocks have struggled in recent months.
Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla have lost a whopping $1.2 trillion in market value since the end of July, per data from Refinitiv.
Investors' fears about the Fed's rate hikes and spiking bond yields have fueled the sell-off.

The mega-cap Big Tech stocks that started 2023 on a tear are now struggling, racking up trillion-dollar losses for their shareholders as Wall Street frets about higher interest rates and soaring bond yields.