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US stocks lost over $750 billion in value as the Nasdaq 100 fell 2%, with all Magnificent 7 stocks declining. The sell-off, driven by AI-linked shares including Tesla, Lam Research, and IBM, spread to broader indices after 10:20 AM ET.
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Key sources
- SOURCE@firstsquawk“NASDAQ 100 EXTENDS LOSSES TO 2%; S&P 500 DOWN 1.1%”x.com
- SUPPORT@zerohedge“All Mag 7 names are lower: Tesla (TSLA) drops 4.4% after the electric-car maker cut its spending plans”x.com
- SUPPORT@bespokeinvest“Big drop in yields this morning as investors sell more AI stocks. 10-year down to 5.03%”x.com
- SUPPORT@bespokeinvest“we've seen selling across the market rather than just in the AI trade”x.com
- SUPPORT@kevrgordon“S&P 500 -1.38% with 290 members advancing”x.com
- SUPPORT@omillionaires“Mag 7 downgraded to Mag 6 1/2”x.com
- SUPPORT@bulltheoryio“$770 billion has been wiped out from the US stock market as the S&P 500 dumps 0.85% at the open”x.com
- SOURCEhuggingnewshuggingnews.com