The Magnificent Seven stocks lost over $1 trillion in market value on Thursday following President Trump's tariff rollout, according to CNBC. Technology stocks led a significant market sell-off, with the Nasdaq Composite dropping 6%, its worst session since 2020. Apple led the decline among mega-cap stocks, followed by Amazon, Nvidia, and Microsoft. Wedbush's Dan Ives described Trump’s tariff plan as "worse than the worst case scenario" and warned that the U.S. could face “self-inflected economic Armageddon” if the tariffs stay as initially presented. For more coverage on tariffs and how they impact your portfolio, visit benzinga.com.
