The Nasdaq Composite, which is heavily weighted with tech stocks, reached a six-month low on Mar.10. It declined over 4% last week.

With the Nasdaq’s biggest drop since 2022, the seven most valuable tech companies lost more than US$750 billion in market value.

Tesla, a member of the so-called “Magnificent Seven” tech stocks, fell over 9%. It has decreased nearly 44% since January.

Apple, Alphabet, and Meta Platforms experienced declines of over 5%. Nvidia lost nearly US$140 billion in value as shares fell 5%.

Meanwhile, Amazon and Microsoft each dropped about 3%.

This market decline occurs amid increased scrutiny of the tech sector.