Giants lose $797B in value
Major technology companies, known as the "Big Seven," faced significant losses totaling approximately $797 billion in one day, marking their largest decline since the market turbulence of April 2025. These losses followed the announcement of earnings reports from Apple, Microsoft, and Tesla, which sparked investor fears regarding the sustainability of the AI boom—especially amid rising capital expenditures amounting to billions of dollars without clear expectations of returns. Concerns centered around the fading confidence in these companies' ability to profit from their hefty investments, amid ongoing geopolitical tensions such as the war with Iran and increasing economic pressures. This led to a sharp decline in stock prices and the evaporation of two trillion dollars in the group's market value.
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