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.
I’m wondering if Trump’s corporate backers are tired of winning yet. Who knows what other wins are coming from the mad king in the future. I’m sure they’ll get tired eventually.
The problem is that, as people say, the people who are rich enough never lose. They can parse any situation into greater wealth. It’s us little people who always lose.