Stocks suffered their steepest one-day drop in more than six months on Thursday as investors grew anxious that the artificial intelligence spending boom may be slowing down. The AI-heavy “Magnificent 7” stocks lost more than $1 trillion in market value as part of the broader market selloff.
\n\nCNBC reports that the Nasdaq Composite fell 5.5 percent, pushing the index into correction territory. The Russell 2000 small-cap index closed in correction territory too. The Dow Jones Industrial Average dropped roughly 1,833 points, about 3.4 percent, and the S&P 500 slid 4.4 percent. Wednesday’s postelection rally was wiped out in the process.
\n\nIt was the worst single-day showing for the major indexes since April 4, 2025, when fears over tariffs sent markets tumbling. Thursday came close to matching those numbers. In some corners of the market, it beat them.
\n\nTechnology stocks took the brunt of it. The Magnificent Seven, comprised of Apple, Microsoft, Google, Amazon, Nvidia, Meta, and Tesla, lost more than $1 trillion in combined market value. Nvidia accounted for the largest share of the loss, shedding more than $440 billion in market cap as its shares fell over nine percent. That drop put Nvidia in the red for the year…
Original source: https://www.breitbart.com/tech/
