Tech stocks took a sharp hit Monday as the Nasdaq suffered its steepest drop since 2022, according to CNBC. The decline wiped out over $750 billion in market value from the seven most valuable tech firms amid recession fears and trade war concerns.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tech stocks took a sharp hit Monday as the Nasdaq suffered its steepest drop since 2022,
00:07according to CNBC. The decline wiped out over $750 billion in market value from the seven
00:12most valuable tech firms amid recession fears and trade war concerns. Apple saw the largest
00:17decline among mega cap stocks, while Nvidia's market value dropped sharply, the shares closing
00:22lower and extending losses since reaching a peak earlier this year. Tesla shares plunged,
00:27with the stock losing more than half its value since mid-December,
00:30and extending its longest weekly losing streak as a public company.