TechFlow news, according to Jinshi Data, after the positive U.S. CPI data, traders chose to exit recently strong-performing tech giants. Weighted stocks Nvidia dropped 5.57%, Tesla fell 8.44%, Meta declined over 4%, while Apple, Microsoft, Google, and Amazon each fell more than 2%.
In contrast, the small-cap-heavy Russell 2000 index rose over 3.5%. The combined market value of the "Magnificent Seven" erased nearly $600 billion (approximately 4.35 trillion RMB) in a single day—equivalent to losing one JPMorgan Chase (market cap $595.46 billion).
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