Tech Stocks Lose Over $2 Trillion Combined As Goldman Sachs Rebrands The Group The 'Maleficent 7'

Benzinga

The Nasdaq has fallen to its lowest level since September as major tech stocks plummet. The Magnificent Seven stocks have lost over $2 trillion in market value, according to CNBC.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02NASDAQ has fallen to its lowest levels since September, as major tech stocks plummet.

00:06The Magnificent Seven stocks have lost over $2 trillion in market value, according to CNBC.

00:11Sell-off follows President Trump's tariff threats and mass government layoffs over

00:15the past three weeks. Apple and NVIDIA both lost 70 percent, while Microsoft lost 9 percent.

00:21Tesla has lost nearly half its value, possibly due to Elon Musk's central role

00:25in the Trump administration. Goldman Sachs rebranded the group as the

00:28Magnificent Seven, setting its lowest valuation premium versus the S&P 500 since 2017.

00:35For all things money, visit Benzinga.com slash GSTV.

Category

Transcript

Recommended