KEY POINTS

  • The so-called Magnificent Seven stocks lost a combined $1.8 trillion in market value over the last two trading sessions.
  • Apple led the losses for the group shaving off more than $533 billion in market capitalization.
  • The Nasdaq recorded its worst week since 2020 as markets responded to mounting fears of a global trade war that could push the U.S. into a recession.
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[–] 24 points 2 years ago (11 children)

Does anyone else not know how to feel about this?

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  • [–] 37 points 2 years ago (2 children)

    Gleeful that the megacaps just got their genitals fed into a meat grinder, but pissed off that it probably won’t do shit in the long run, and sad for whatever repercussions await those not even tangentially involved far, far down the economic chain. Best I can do.

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  • [–] 18 points 2 years ago (3 children)

    Meh. They're not going to really hurt from this. If anything they'll use it as an excuse for layoffs, then give the CEO a bonus.

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  • [–] 8 points 2 years ago (2 children)

    I think that's the reason people don't know how to feel. It will hurt the companies a little but the workers are going to be fucked.

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  • [–] 10 points 2 years ago (1 child)

    Terrified of the possibility of a repeat of the 2008 financial crisis. Having grown up watching my family get through it did not endear me to the prospect of going through it myself. I was making good money 6 years ago. We are scraping by today. If things get as bad as 2008 again, I honestly have no idea what we'll do.

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