On March 28, the S&P 500, Nasdaq, and Dow Jones three major indices all declined across the board this week, marking the longest consecutive five-week losing streak since 2022. The combined market capitalization of the seven tech giants shrank by approximately $870 billion in a single week, with Nasdaq falling more than 13% from its October 2022 high.

This week, the US stock market weakened significantly amid multiple negative factors. By the close on Friday, the Dow Jones dropped 793 points in a single day, the S&P 500 hit a seven-month low, and Nasdaq further entered a technical correction zone. The average maximum drawdown of the 500 S&P components has reached 17%, while Nasdaq components have an even higher average maximum drawdown of 31%, indicating that the actual damage is far more severe than the index figures suggest.

The technology sector bore the brunt. Meta plunged about 12% over the week, driven by dual pressures from two defeats in child safety lawsuits and layoffs; Tesla and Amazon also fell more than 3%; Nvidia declined nearly 5% due to a contraction in AI capital expenditure expectations.

The "Seven Giants" collectively lost about $870 billion in market value over the week, equivalent to more than 6.3 trillion RMB. From a market structure perspective, the breadth and depth of this decline should not be underestimated. Although the major indices fell between 7% and 13%, more than half of individual stocks have retreated over 20% from their highs, entering a technical bear market zone. #成长值抽奖赢金条