Tech stocks in the US lost $797 billion in market value on July 24, 2026.
This marked the worst single‑day drop for the 'Magnificent 7' since April 2025.
Tesla and Alphabet’s values tumbled by hundreds of billions after weak earnings.
The selloffs followed Google’s poor earnings report, sparking worries about Big Tech’s growth.
Tesla’s stock fell over 8% following the earnings release.
Alphabet’s shares fell nearly 5% during that session.
The decline impacted broader tech benchmarks as anxiety grew across the sector.
The drop ended months of strong gains for top tech firms.