Megacap rout: Magnificent Seven erase about $797B in a brutal one-day selloff

The Magnificent Seven—MSFT, AMZN, AAPL, GOOG/GOOGL, NVDA, TSLA, and META—led a dramatic market rout that wiped roughly $797 billion in value in a single day, the harshest drop since the April 2025 tariff sell-off. Alphabet and Tesla drove the declines after their quarterly results (Tesla down about 14%, Alphabet around 6%), as investors weighed AI-infrastructure spending and earnings prospects. Memory-chip players MU, SK Hynix, and SNDK bucked the trend with gains amid AI-related demand, while analysts suggested investors diversify into cheaper, solid-earning names in a continuing AI-driven investment cycle.