Magnificent 7 Loses $1 Trillion In One Day - Is This The End For Tech Super Pack?
Investors writing off the Magnificent 7 after Wall Street's $3 trillion tech selloff are making a costly mistake, warns the CEO ofdeVere Group, one of the world's largest independent financial advisory organisations.
The comments from Nigel Green come as the Magnificent 7 lost more than $1 trillion in combined market value in a single session on Thursday.
Nvidia alone shed over $440 billion as its shares tumbled more than 9%, erasing its gains for 2026.
AdvertisementThe rout spread far beyond Big Tech. Every one of the S&P 500's 11 sectors closed in the red. The index sank 4.4%, the Dow shed more than 1,800 points, and the Nasdaq Composite plunged 5.5% in its heaviest one-day fall since April 2025, joining the small-cap Russell 2000 in correction territory.
Yet the seven no longer moved as a pack. Apple slipped just 1.5%, while Microsoft, Meta, Amazon and Alphabet fell between 2% and 4%. Outside the group, Micron and AMD each plunged around 17%.
Fear surged across Wall Street. The VIX volatility gauge hit its highest level since March 31 and posted its biggest one-day jump since April 2025. Falling stocks outnumbered rising ones by nearly six to one on the New York Stock Exchange, and the S&P 500's technology sector dropped 7.3%, its worst day since March 2020.
The pain runs deep. Around a third of S&P 500 stocks sit 20% or more below their 52-week highs, including Alphabet, Nvidia, Oracle and Micron. In the Nasdaq-100, the figure is closer to 60%, with CoreWeave and Arm Holdings among the casualties.
Early signs of a rebound emerged within hours. Nasdaq 100 futures rose around 1% in early Friday trading, with Nvidia, Micron and AMD bouncing after hours as Wall Street awaited the October jobs report.
The deVere CEO believes the rout will ultimately leave Big Tech stronger.
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