Magnificent Seven Set to Shed $900 Billion in Value, Led by Apple, Nvidia
August 5th, 2024Warren Buffett watching every asset collapse while holding a quarter Trillion in T-Bills pic.twitter.com/Yy7ZmCxXI0
— Geiger Capital (@Geiger_Capital) August 5, 2024
Via: Reuters:
Apple and Nvidia led a sell-off in technology stocks on Monday as U.S. recession fears and Berkshire Hathaway’s decision to cut its stake in the iPhone maker punctured a months-long rally in the sector.
High-performing shares of Alphabet, Amazon, Meta Platforms, Microsoft and Tesla, as well as Apple and Nvidia, fell as much as 6.5%. The losses in the Magnificent Seven stocks were set to wipe out nearly $900 billion from the combined market value of the companies.
Related: $2 Trillion Wiped from Stock Market Implosion
