Nvidia shares tank as ‘Magnificent 7’ stocks on track to lose $620 billion in market cap | News World

Nvidia (NVDA) shares fell 6% as the “Magnificent Seven” stocks were on track to wipe out roughly $620 billion in market cap during Monday’s market plunge.

As of 2:35 p.m. ET, the Mag Seven were having their worst day since July 24. Together, the group of stocks make up more than 40% of the Nasdaq 100 (^NDX) weighting.

The other components of the group also dropped, with Alphabet (GOOGL, GOOG) and Meta (META) falling more than 2%. EV giant Tesla (TSLA) plunged more than 4%.

Ecommerce giant Amazon (AMZN) dropped more than 4%, while software maker Microsoft (MSFT) slipped more than 3%.

Individual company news also put pressure on the Mag Seven stocks.

Apple (AAPL) dropped more than 5% amid the broader market selloff and after Berkshire Hathaway (BRK-B) revealed over the weekend it had cut half of its stake in the iPhone maker.

Nvidia fell as much as 13% at the market open to pare some of its…