US stocks plummet: Nasdaq drops 2.78%, the "Magnificent Seven" fall together, Nvidia declines over 8%
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US stocks plummet: Nasdaq drops 2.78%, the "Magnificent Seven" fall together, Nvidia declines over 8%
According to Jinshi, U.S. stocks plunged sharply again on Thursday, with the S&P 500 closing down 1.59%, the Nasdaq Composite down 2.78%, and the Dow Jones Industrial Average down 0.45%. The "Magnificent Seven" tech giants all declined, collectively losing nearly $550 billion in market value. Nvidia turned from up over 2% at the open to closing down more than 8%, shedding over $270 billion in market value in a single day. Morgan Stanley's Quantitative & Derivatives Strategy team warned that the S&P 500 has broken below the key intermediate-term CTA liquidation trigger level of 5887 (closed at 5861 on Thursday).
Navigating Web3 tides with focused insightsTechFlow news, February 28 — According to Jinshi, U.S. stocks plunged sharply on Thursday, with the S&P 500 closing down 1.59%, the Nasdaq Composite down 2.78%, and the Dow Jones Industrial Average down 0.45%. The "Magnificent Seven" tech giants all declined, collectively losing nearly $550 billion in market value. Nvidia, which was up 2% at the open, closed down over 8%, erasing more than $270 billion in market value in a single day.
Morgan Stanley's Quantitative & Derivatives Strategy team warned that the S&P 500 has broken below the key mid-term CTA liquidation trigger level of 5887 (closed at 5861.57 on Thursday). They expect macro systematic strategies to sell over $40 billion in equities over the coming week, mostly driven by CTAs as U.S. equity futures triggers begin to flip. Estimated sales are at least $12.6 billion over the next week and $58 billion over the next month.
Market sentiment has deteriorated sharply. The latest survey from the American Association of Individual Investors shows investor sentiment has turned extremely bearish. In the week ended Wednesday, expectations for stock prices to fall over the next six months surged over 20 percentage points to nearly 61%. JPMorgan data shows retail investors sold $1.1 billion in stocks within the first two hours of trading on Monday—the largest single-day outflow since the pandemic outbreak in March 2020.
Analysts point out that concerns over slowing growth and trade uncertainty triggered by Trump-related policies are hitting equities, killing the momentum trades that previously drove market gains. The S&P 500 is now down 0.3% year-to-date in 2025; a further drop of 1.4% would erase all gains since Trump's election victory.
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