'Magnificent 7' tech stocks - including Tesla and Nvidia - now dominate

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Forget FAANG and GAMMA, the 'Magnificent 7' tech stocks - including Tesla and Nvidia - now dominate the market

Tesla shares have surged since late April

The so-called Magnificent 7 are now the largest seven US-listed companies - although some strategists worry that could spell doom for the broader market. "If interest rates go to 7%... then that becomes bad news for the whole market," she added, referring to the fact that growth stocks tend to suffer the most when borrowing costs rise.

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