Tech stocks in the United States lost $797 billion overall on July 24, 2026.
This marked the steepest single‑day decline for the 'Magnificent 7' since April 2025.
Tesla and Alphabet’s values tumbled by hundreds of billions after weak earnings.
The market selloffs followed Google’s poor earnings report, sparking worries about Big Tech’s growth.
Tesla’s stock slid over 8% after its earnings release.
Alphabet’s shares fell nearly 5% in the same session.
The decline impacted broader tech benchmarks as concerns widened across the sector.
The drop brought to a close months of strong gains for top tech firms.