Magnificent Seven Stocks Hit New Lows as US Market Faces Severe Drawdown

The US stock market is facing significant downward pressure as the influential "Magnificent Seven" tech giants hit fresh lows alongside the broader market. This correction marks the most severe drawdown for these companies since the spring 2025 tariff tantrum and the 2022 bear market. Major indices have been heavily impacted due to the substantial weighting of leaders like Apple, Microsoft, and Nvidia. Analysts suggest that the continued weakness signals a potential shift from previous bullish trends toward bear market territory. The broad market decline has intensified pressure on key exchange-traded funds, including SPY and QQQ, reflecting growing investor anxiety. Market participants are now closely monitoring technical support levels for these tech giants, as their performance remains a primary driver of overall market sentiment.