Tesla shares (TSLA) experienced a notable decline, falling by 5.4% on Friday, December 27, 2024. This drop follows a 1.4% premarket decline earlier in the day. Tesla's performance led losses among the 'Magnificent Seven' stocks, a group of major technology companies including Apple, Microsoft, Amazon, Nvidia, Meta, and Alphabet. Other members of the group also saw declines, with Amazon down 2.1%, Meta down 2%, Alphabet down 2.2%, Apple down 1.9%, Microsoft down 2.7%, and Nvidia down 2.6%. The broader market indices, the S&P 500 and Nasdaq Composite, fell 1.3% and nearly 2%, respectively, driven by the declines in these heavily weighted stocks. Tesla's recent losses come after reaching a record high of $488.53 the previous week. Dip buyers reportedly stepped in at $442.69, reflecting interest in the stock despite the downturn. The 'Magnificent Seven' stocks' significant influence on the S&P 500 and Nasdaq Composite amplified the market impact.