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"Magnificent 7" Stocks Seen $2.7 Trillion Wiped off in 50 days


Fri 14 Mar 2025 | 05:42 AM
Taarek Refaat

The "Magnificent 7" Stocks

The seven major technology stocks, known as the Magnificent 7, deepened their losses on Thursday, bringing the market's total losses to approximately $2.7 trillion since the S&P 500 began its correction on February 19, a total of 16 sessions.

Apple shares fell 3.5% during this period, closing at a seven-month low, while Meta shares fell 11% during the same period, recording its lowest daily close since the beginning of the year.

Tesla's stock topped the losers' list, losing more than 12% of its value in the last 16 sessions.

As for the Latest Trading session, Meta lost -4.67% to record $590.64 per share.

Microsoft $378.77 -4.50 (-1.17%)

Alphabet Inc. (GOOG) 164.73 -4.27 (-2.53%)

Nvidia $115.58 -0.16 (-0.14%)

Amazon $193.89 -5.00. (-2.51%)

Major US indices closed with sharp collective losses on Thursday, pressured by mounting concerns about the repercussions of the trade war and investor anxiety about an economic recession amid the uncertainty stemming from Donald Trump's policies.

In the latest episode of Trump's multi-front trade war, the European Union responded to the US's sweeping tariffs on steel and aluminum by imposing a 50% tax on whiskey exports,

which prompted the president to threaten a 200% tariff on European wine and spirits imports.

The Dow Jones Industrial Average fell 1.3%, or 537 points, on Thursday, marking its fourth consecutive daily decline, bringing its losses to 9.3% since its December 4 peak.

The S&P 500 fell 1.4%, closing at its lowest level in nearly six months, confirming its entry into correction territory after losing more than 10% since its February 19 peak.

The Nasdaq Composite Index deepened its losses after closing down 2%, closing at a six-month low. The technology-heavy Nasdaq had confirmed its entry into correction territory since the March 6 session.

In economic data, Thursday's Producer Price Index (PPI) was in line with Wednesday's Consumer Price Index (CPI), showing lower-than-expected readings, confirming that inflation remains on its downward trajectory as it approaches the Federal Reserve's 2% target.