In one day, the Nasdaq 100 index lost $1trn in value after results from Tesla and Alphabet were deemed lacklustre, and spurred a wider technology sector sell-off
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...
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