Tech megacaps lose over $750 billion in market cap in worst day for Nasdaq since 2022

Nvidia CEO Jensen Huang gives a keynote address at CES 2025, an annual consumer electronics trade show, in Las Vegas on Jan. 6, 2025. It's gone from bad to worse for tech investors. With the Nasdaq suffering its steepest drop since 2022 on Monday, the seven most valuable tech companies lost more than $750 billion in market value. Recession fears and concerns about a trade war drove the selloff. Apple led the megacap losses, with its value plummeting by about $174 billion. Nvidia shaved off almost $140 billion in market value and shares closed down 5%. The leading AI chipmaker has lost nearly a third of its value just two months after notching a fresh high in January. Tesla had the biggest percentage loss, with shares of the electric vehicle maker tumbling 15%, their worst day since 2020. The company has lost more than half its value since its stock price peaked in mid-December. The stock is also coming off its longest weekly losing streak in history as a public company. Tesla lost ... Read full article.