Tech stocks in the United States lost $797 billion in market value 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 due to weak earnings.
These selloffs followed Google’s poor earnings report, triggering doubts about Big Tech’s growth.
Tesla’s stock dropped over 8% once the earnings were released.
Alphabet’s shares tumbled nearly 5% during that session.
The decline impacted broader tech benchmarks as anxiety grew across the sector.
The drop halted months of strong gains for top tech firms.