Nvidia, Tesla Stocks Slip as 'Magnificent 7' Names Lead Markets Lower
The "Magnificent Seven" stocks experienced significant declines on Monday as investors took risk off the table amid concerns about inflation and economic uncertainty. Shares of Nvidia and Tesla dropped more than 2% before the market open, while Alphabet, Amazon, Meta, Apple, and Microsoft saw smaller losses. The tech-heavy Nasdaq Composite entered correction territory last week, and the S&P 500 fell 6% from its record high reached on February 19.
- This sell-off highlights the growing skepticism among investors regarding the ability of these large-cap technology companies to sustain their growth momentum in a post-pandemic environment.
- What implications will this market pullback have for policymakers, particularly President Trump's administration, which has been heavily invested in promoting the stock market as a barometer of economic success?