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FinanceMagnificent 7 Lose US$797 Billion in Worst Day Since April 2025 Tariff Turmoil
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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.
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Publication Date: July 24, 2026
Magnificent 7 Lose US$797 Billion as AI Sceptics Dump Tech Stocks
An index of these stocks is down 11% from a May record – erasing US$2 trillion in market value.
Published: Fri, Jul 24, 2026 · 11:15 AM
CHICAGO – Wall Street is growing increasingly concerned about the outlook for artificial intelligence, leading to a massive sell-off in major technology stocks.
- The tech behemoths on Jul 23 suffered their biggest one-day drop since the tariff tantrum of April 2025.
- The "Magnificent 7" group of stocks lost a combined US$797 billion in market value.
- An index tracking these stocks is now down 11% from its record high in May, erasing a total of US$2 trillion in market capitalization.
Source
The Business TimesRegional
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Magnificent 7 Lose US$797 Billion as AI Sceptics Dump Tech Stocks