Magnificent 7 Index Falls 1.09% to 236.96, Retreating From Record Close

A single-session pullback from a record close is unremarkable on its own, but the sequence matters: the intraday peak came on October 6, the closing peak on October 7, and the failed rebound on October 8 leaves the index below both. That pattern suggests momentum cooling at the top of the range rather than a broad reversal, with the deeper 1.55% decline in the mega-cap tech index hinting that the largest names absorbed the heaviest selling. Whether the index can reclaim its record close, or instead confirms a short-term lower high, is the open question.