S&P 500 & Nasdaq Plummet: Tech Stocks Fuel Market Downturn

Recent market volatility has been fueled by significant drops in tech stocks, particularly those known as the ‘Magnificent Seven,’ including Apple and Tesla. This decline led to a sharp downturn for both the S&P 500 and Nasdaq, marking their worst quarterly performance since 2022. Factors contributing to this shift include growing competition in AI and increased uncertainty surrounding regulatory changes impacting tech giants. Analysts point out that the dramatic reversal of these major players has heavily influenced overall market trends.