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Magnificent 7 loses $1 trillion. The most eye-popping stats from Thursday's tech stock plunge
The significant sell-off in technology stocks, particularly in the 'Magnificent 7', has triggered broader market concerns, with the Nasdaq Composite declining 5.5% and entering correction territory. This risk-off sentiment traditionally undermines the USD as capital flees to perceived safe havens like the JPY. As investors brace for potential earnings downgrades, and the impact of midterm developments looms, the implications for fiscal policy and future Fed actions warrant close scrutiny. The tech sector's volatility casts a shadow over investors’ outlooks, challenging previous bullish sentiments.