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.

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Source Fool.com