Magnificent 7 Lose US$797 Billion as AI Sceptics Dump Tech Stocks

On July 23, 2026, the so-called 'Magnificent 7' tech stocks—major technology behemoths—suffered their largest one-day drop since the tariff-related market turmoil of April 2025, losing a combined US$797 billion in market value. An index tracking these stocks has fallen 11% from its May 2026 record, erasing a total of US$2 trillion in market capitalization. The sell-off is attributed to growing skepticism among investors regarding the profitability and sustainability of artificial intelligence investments. The event marks a significant reversal for the tech sector, which had been driven higher by AI optimism. The report was published by The Business Times in Singapore on July 24, 2026.

First published Aug 4, 01:52 PM UTCUpdated Jul 24, 03:15 AM UTC1 reports · 1 sources

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Magnificent 7 Lose US$797 Billion as AI Sceptics Dump Tech Stocks

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Magnificent 7 Lose US$797 Billion as AI Sceptics Dump Tech StocksThe Business TimesRegionalJul 24, 03:15 AM UTC

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