Magnificent 7 Falls 2.38% on Fed Rate Decision, Super-Cap Tech Slides 1.56% on June 17

On Wednesday, June 17, the Magnificent 7 index fell 2.38% to 210.21 points, sliding after a gap-down open. The decline accelerated significantly at 02:00 Beijing time when the Federal Reserve announced its decision and economic projections, with further momentum loss once Fed Chair Kevin Walsh's press conference began.

The super-large cap technology stock index dropped 1.56% to 432.59 points, also showing a sharp decline following the Fed announcement and a pullback during Walsh's press conference.