US Stock Market Witnesses Worst Day Since 2022 Amid Massive Tech Stocks Decline, Over USD 1.1 Trillion Wiped Out As ‘Magnificent Seven’ Tumbles

The US stock market on Thursday, July 25, experienced its worst day since 2022, as a massive decline in tech stocks led to over USD 1.1 trillion being wiped out. The steep drop was largely attributed to the sharp fall of the "Magnificent Seven" tech giants, which include leading companies like Apple and Microsoft which collectively lost USD 500 billion on Wednesday alone. The S&P 500 fell 2.3 per cent, marking its fifth drop in the past six days, while the Dow Jones Industrial Average lost 504 points or 1.2 per cent. The Nasdaq composite saw a sharp 3.6 per cent decline. The massive losses come amid disappointing profit reports from Tesla and Alphabet, which have dampened Wall Street’s enthusiasm for artificial intelligence (AI) technology. Over the past five trading sessions, the Magnificent Seven has shed a staggering USD 1.13 trillion in market capitalisation, making it one of their largest declines on record. US Presidential Elections 2024: US President Joe Biden’s Withdrawal From Race May Lead to Global Stock Market Volatility, Says Experts.

US Stocks Face Worst Day Since 2022

US Stock Market Crash

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