The "Magnificent 7" suffered their biggest single-day slump in stock prices overnight (23rd) since tariff threats in April 2025, losing USD797 billion in market cap, as major Wall Street firms grew concern over massive spending by major technology companies in the AI sector.

Meanwhile, the reignited Iran conflict also cast a shadow over the global macroeconomic outlook. The Roundhill Magnificent Seven ETF (MAGS.US), which tracks the "Magnificent 7", plunged 4.6% overnight (23rd).

Earnings released by Alphabet Inc. (GOOGL.US) and Tesla, Inc. (TSLA.US) after the close on Wednesday (22nd) sparked panic among traders and raised doubts over whether the AI-driven trade that propelled equities higher over the past three years can sustain.

Alphabet raised its capex forecast for this year to as much as USD205 billion, whereas Tesla CEO Elon Musk also said this year would be a year of massive capex.

Tesla, Inc. (TSLA.US) cascaded 14.5%, marking its worst single-day performance since March 2025, while Alphabet nosedived 7.1%, its largest decline since May 2025. Microsoft Corporation (MSFT.US) dropped 2.2%, Amazon.com, Inc. (AMZN.US) slumped 4.6%, and Meta Platforms, Inc. (META.US) also slid 3.4%. All three companies are scheduled to release earnings next week.
~

AASTOCKS Financial News
Website: www.aastocks.com

SG Top Picks
Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
ALPBE (C)	11184	470 (-)	0.063	8.6 X
TSLA (C)	11134	490 (-)	0.041	9.4 X
TSLA (P)	11135	330 (-)	0.710	3.1 X
MSFT (C)	11136	450 (-)	0.149	9.7 X
MSFT (P)	11064	390 (-)	0.475	6.2 X
AMZN (C)	11070	245 (-)	0.188	8.7 X
AMZN (P)	11137	180 (-)	0.098	5.4 X
META (C)	11069	830 (-)	0.040	13.7 X
META (P)	11138	475 (-)	0.390	4.3 X
APPLE (C)	11132	300 (-)	0.530	6.7 X
APPLE (P)	11063	248 (-)	0.027	11.7 X
Nvidia (C)	11185	275 (-)	0.132	6.2 X
Nvidia (P)	11090	168 (-)	0.146	4.4 X