Big Tech stocks came under pressure this past week as investors pulled back from some of the market’s biggest artificial intelligence winners. Higher bond yields, renewed inflation concerns, and sector-specific developments all added to the move lower.
The sell-off left the “Magnificent Seven” with more than $850 billion in erased market value over five trading days. The group, which includes Apple, Microsoft, NVIDIA, Amazon, Tesla, Meta, and Alphabet, has now faced a broader reset after leading the market for much of the past three years.