Tech stocks across the United States lost $797 billion overall on July 24, 2026.
This marked the steepest single‑day decline for the 'Magnificent 7' since April 2025.
Tesla and Alphabet’s values dropped by hundreds of billions due to weak earnings.
The market selloffs followed Google’s poor earnings report, raising concerns about Big Tech’s growth.
Tesla’s stock dropped over 8% once the earnings were released.
Alphabet’s shares fell nearly 5% in that trading window.
The decline affected broader tech benchmarks as anxiety grew across the sector.
The drop ended months of strong gains for top tech firms.