31 min ago
Magnificent Seven ETF on Track to Close in Correction Territory
The Magnificent Seven looked downright dreadful on Tuesday.
All seven members of the group were falling. Tesla, down 8%, was on track to close with a market cap below $1 trillion for the first time since Nov. 14. Meta Platforms, Amazon.com, and Nvidia were all down more than 3%. Alphabet was down 2.1%. Microsoft was down 1.2%. Apple was the brightest of the bunch, down just 0.4%.
The Roundhill Magnificent Seven ETF, which offers exposure to the group of megacap stocks, was down 12.1% from its Dec. 17 high, meaning it's on track to close in correction territory for the first time since July, according to Dow Jones Market Data.
