'Magnificent 7' stocks' rough June pushes them into the red for the year. What's behind the decline

AI Summary

The 'Magnificent 7' stocks including Microsoft, Nvidia, Alphabet, Apple, Meta, Tesla, and Amazon lost about $2 trillion in market capitalization during June, pushing their performance into negative territory for the year. This decline reflects broader market pressures impacting major tech companies.

The group — which Microsoft, Nvidia, Alphabet, Apple, Meta, Tesla and Amazon — shaved off roughly $2 trillion in market cap during June.