The 'Magnificent Seven' group of tech stocks—Apple, Microsoft, Nvidia, Tesla, Amazon, Alphabet, and Meta—has entered correction territory, collectively losing over $1 trillion in market capitalization since their peak. The group has fallen approximately 10% from its all-time high, meeting the technical definition of a correction. Tesla has been the hardest hit, dropping 37.5% from its peak, with its market cap falling below $1 trillion. The decline includes an 8.4% drop in the latest session, attributed to weak sales figures in Europe. Nvidia, Amazon, and Meta have also seen double-digit percentage losses, with Nvidia falling 15.7%, Amazon 15.7%, and Meta 12.4%. The equal-weight 'Magnificent Seven' ETF, $MAGS, has broken below key technical support levels, including its 50-day moving average, and is trading near its 100-day moving average. Analysts note increased selling pressure and rising volume. The Nasdaq Composite Index has also been affected, declining 1.4% in its fourth consecutive negative session. The 'Magnificent Seven' stocks, which include Apple with a $3.7 trillion valuation, Microsoft at $3.0 trillion, and Nvidia at $3.1 trillion, have been the primary drivers of the index's decline.