Over 60% of S&P 500 stocks are in bear-market territory as the Magnificent Seven tech giants lose $4 trillion in collective market cap.
Macro & Markets ·
More than 60% of S&P 500 companies have fallen at least 20% below their record highs, entering commonly defined bear-market territory even as the index itself remains near its all-time high. The Magnificent Seven tech stocks have collectively erased approximately $4 trillion in market capitalization from their peaks, with Alphabet down 31% and Meta down over 21%. Technology and crypto-linked equities have been hit hardest, with AppLovin down 68%, Coinbase down 62%, and CoreWeave down 60% from their respective highs.