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Magnificent Seven Stocks Plunge 4.8% in Single Day, Wiping Out $800 Billion in Market Cap

2026-07-24 03:13:04

TSLA-14.60%

According to Guru Club, the Magnificent Seven tech stocks plunged 4.8% on Thursday, July 24, collectively wiping out approximately $800 billion in market value. The decline marks the steepest single-day drop since April 2025, amid disappointing earnings reports from Alphabet and Tesla released after market close on Wednesday.

The tech index has now fallen 11% from its May peak, with cumulative market cap losses of roughly $2 trillion.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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