Why Amazon, Microsoft, Meta Platforms, and Other "Magnificent Seven" Stocks Got Caught Up in a Sell-Off on Monday
It's no secret that recent advancements in artificial intelligence (AI) helped drive the current market rally. Since the advent of generative AI early last year, the market has enjoyed the start of a remarkable bull run even as concerns about the broader economy persist.
The combination of a carry trade and a rate hike by the Bank of Japan helped spark a worldwide sell-off that sent the major market indexes plunging. To make matters worse, news from Nvidia -- the poster child for AI, added fuel to the sell-off.
With that as a backdrop, "Magnificent Seven" stock Amazon (NASDAQ: AMZN) slumped 4%, Microsoft (NASDAQ: MSFT) fell 2.8%, (NASDAQ: GOOGL) (NASDAQ: GOOGL) fell 2.2%, and Meta Platforms (NASDAQ: META) slipped 1.8%, as of 1:58 p.m. ET on Monday.
Source Fool.com
Alphabet Inc. C Stock
The stock is an absolute favorite of our community with 28 Buy predictions and no Sell predictions.
With a target price of 165 € there is a slightly positive potential of 11.05% for Alphabet Inc. C compared to the current price of 148.58 €.
