Tesla, which makes up just under 4% of the entire index, posted mixed Q2 results after it reported “notably lower” growth versus 2023, despite revenue coming in above expectations.
The parent owner of Google, Alphabet’s second-quarter earnings actually outpaced expectations, but advertising revenue disappointed.
US equities suffer worst day in two years as Nasdaq loses $1trn
The carmaker’s shares slumped by 12% on the day, while Alphabet’s fell 4%, sparking a contagion effect across the Magnificent Seven and AI-affiliated tech names.
Collectively, the seven companies lost more t…