KEY POINTS
- The so-called Magnificent Seven stocks lost a combined $1.8 trillion in market value over the last two trading sessions.
- Apple led the losses for the group shaving off more than $533 billion in market capitalization.
- The Nasdaq recorded its worst week since 2020 as markets responded to mounting fears of a global trade war that could push the U.S. into a recession.
I imagine a lot of this data is because they are the ones cashing out so I don’t know how accurate this is. I feel Its more likely the American population’s 401k are losing the value here. Billionaires selling off billions vs my measly 100k is going to have a more dramatic market effect. If that’s the case hopefully we see some massive capital gains tax… But my guess is this money is being reinvested somewhere else or offshored.
Worst weekly drop in only 5 years? Buckle up, we’re not stopping until we set the 100 year record!
i mean they dint pay 2.7 trillion taxes, so this can be fair game to them. maybe this is a way to tax the rich, but making lose almost as much.
Absolutely not.
The rich have offshore accounts funneling money between countries currencies and stocks. They are well diversified. A crash won’t hurt them.
This is killing the average worker. Exactly what they want.
What was going on five years ago?
Covid
Probably was just the dump part of a pump and dump on the entire market
“Its evolution baby !”
