U.S. equities markets took a beating Monday as global investors reacted to signs of slowing demand and the instability driven by the nation’s ratcheting tariff wars with Canada, China and other key trade partners.
Tech’s “Magnificent Seven” stocks — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla — all took a drubbbing. None of the major media giants were immune to the downdraft, led by Warner Bros. Discovery with a 4% slide for the day to close at $10.59. Netflix fell 2.7% to $866.68. Disney slid 2.4% to finish out at $103.08. Comcast dropped 4% to $36.11.
The Dow Jones companies collectively gave up 2% for the day, or 890 points, while the tech-heavy NASDAQ index dropped 4%. The S&P 500 fell 2.7%.
More to come
