‘Magnificent seven’ tech stocks tumble a whopping $280B as crypto surges

More than $280 billion has been wiped from the “magnificent seven” tech stocks following the release of several earnings reports on Oct. 25, triggering fears of a looming tech recession.

Google parent company Alphabet saw its share price fall over 9%, wiping $180 billion from its market cap and wasApple and Tesla’s fall in share prices were less severe at 1.35% and 1.9%, while Microsoft was the only one of the seven to buck the trend, with its share price rising 3.1% after reporting better-than-expected growth in its Azure business.

“This is what happens when the few stocks that are holding up the entire market break," the firm said, adding that tech stock investors may be beginningFears of a “stock market crash” have also been reflected in Google search trends, with the three-word term up 233% over the last week, noted Andrew Lokenauth, a reporter for TheFinanceNewsletter.com.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Stocks suffer longest losing streak of 2023 as record stretch of 'Magnificent Mondays' comes to an endMonday’s session cements the worst stretch for stocks so far this year
Fuente: MarketWatch - 🏆 3. / 97 Leer más »

Stock Market Today: Dow, S&P 500 Open Lower; Alphabet Stock Price FallsLive updates on what's moving markets, including stocks the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Fuente: WSJ - 🏆 98. / 63 Leer más »

Stock Market News Today: Dow, Nasdaq Slip; Alphabet Stock Price FallsLive updates on what's moving markets, including stocks the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Fuente: WSJ - 🏆 98. / 63 Leer más »