Magnificent 7 loses $1 trillion in one day
(MENAFN- Cision) Magnificent 7 loses $1 trillion in one day - is this the end for tech super pack?
FOR IMMEDIATE RELEASE
November 6 2026
Investors writing off the Magnificent 7 after Wall ’treet’s $3 trillion tech selloff are making a costly mistake, warns the CEO of deVere Group, one of t’e 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.
He says: “Wiping $1 trillion off the tech super pack in a day naturally makes people ask whether its reign is over. The answer is no.
“These companies still dominate cloud computing, chips, smartphones, advertising and online retail, and they still have years of growth ahead.
The rout spread far beyond Big Tech. Every one of the S&a’p;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%.
“Look at the gap betwee” those moves,” sa“s Nigel Green. “Investors hit the most stretched corners of the chip trade hardest. Businesses with enormous cash flows and products people use every day held up far better.
“Even in a panic, investors picked their targets. The market has started sorting the Magnificent 7 into stron”er and weaker hands.”
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 Excha’ge, and the S&P 500’s technology sector dropped 7.3%, its worst day since March 2020.
“Thursday’s selling had”the hallmarks of capitulation,” the deVere CEO explains.
“When the fear gauge spikes and almost every stock falls together, forced sellers tend to be clearing out. Moments like this have often marked the point where ”atient money starts moving back in.”
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.
“Some of these comp’ni”s deserve their dis“ount, and some don’t,” says Nigel Green. “Investors will need to ask tougher questions of every tech giant. Who owns the customer? Who has secured power for their data centres? Who is turning AI spending into revenue today?
“Membership of an exclusi”e club won’t carry a stock anymore. Delivery will.”
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.
“Corrections like this squeeze out excess and reward discipline. The super pack will likely keep leading the AI boom, though perhaps with a different pecking order at the top.
“A sharper, more selective market should make the next stage of its run far more durabl” than the last.”
ENDS
FOR IMMEDIATE RELEASE
November 6 2026
Investors writing off the Magnificent 7 after Wall ’treet’s $3 trillion tech selloff are making a costly mistake, warns the CEO of deVere Group, one of t’e 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.
He says: “Wiping $1 trillion off the tech super pack in a day naturally makes people ask whether its reign is over. The answer is no.
“These companies still dominate cloud computing, chips, smartphones, advertising and online retail, and they still have years of growth ahead.
The rout spread far beyond Big Tech. Every one of the S&a’p;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%.
“Look at the gap betwee” those moves,” sa“s Nigel Green. “Investors hit the most stretched corners of the chip trade hardest. Businesses with enormous cash flows and products people use every day held up far better.
“Even in a panic, investors picked their targets. The market has started sorting the Magnificent 7 into stron”er and weaker hands.”
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 Excha’ge, and the S&P 500’s technology sector dropped 7.3%, its worst day since March 2020.
“Thursday’s selling had”the hallmarks of capitulation,” the deVere CEO explains.
“When the fear gauge spikes and almost every stock falls together, forced sellers tend to be clearing out. Moments like this have often marked the point where ”atient money starts moving back in.”
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.
“Some of these comp’ni”s deserve their dis“ount, and some don’t,” says Nigel Green. “Investors will need to ask tougher questions of every tech giant. Who owns the customer? Who has secured power for their data centres? Who is turning AI spending into revenue today?
“Membership of an exclusi”e club won’t carry a stock anymore. Delivery will.”
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.
“Corrections like this squeeze out excess and reward discipline. The super pack will likely keep leading the AI boom, though perhaps with a different pecking order at the top.
“A sharper, more selective market should make the next stage of its run far more durabl” than the last.”
ENDS
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