Magnificent 7 Stocks Lose $1.1 Trillion in Five Days, and It’s Barely a Blip. Trillions Don’t Even Matter Anymore

By Wolf Richter for WOLF STREET

Nvidia, after gaining $2.1 trillion YTD through July 10, gave up $418 billion or 12.6% since. Meta -13.6% in 5 days. Tesla should be kicked out of the Mag 7.

These numbers are just crazy when you actually think for one second about it: Since the high on July 10, over those five trading days, the Magnificent 7 – Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, and Tesla – have lost $1.13 trillion in market capitalization. If that happened in Commercial Real Estate over a 12-month period it’s considered a massacre, calling for bailouts and rate cuts and whatnot. Here it’s just kind of a blip.