TREE NEWS reports: The Magnificent 7 index closed down 2.73% at 228.92 on Thursday, October 22, after gapping lower and steadily extending losses through the session. Meta Platforms was the worst performer, falling 6.98%, while Amazon and Nvidia dropped as much as 4.57% and Alphabet and Tesla fell as much as 3.15%. Microsoft lost 2.23%, and Apple was the sole gainer, up 1.23%.
Magnificent 7 index falls 2.73% as Meta drops nearly 7%
The striking detail is the breadth of the selloff: nearly every mega-cap name moved lower together, with only Apple bucking the trend. That kind of uniform pressure suggests a macro or sentiment driver hitting the group as a whole rather than company-specific news, and Meta's outsized decline points to it amplifying rather than leading the move. For crypto and RWA markets, the relevance is correlation: when the largest tech names trade as a single risk block, appetite for higher-beta assets tends to follow the same direction. Whether Apple's relative strength signals rotation within the group or merely a one-day quirk is the open question.
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