The Nasdaq Composite experienced a significant downturn, dropping 5.5% and entering correction territory, marking its worst performance since April 2025. This decline saw over $1 trillion wiped from the market capitalization of the Magnificent Seven companies, with Nvidia alone losing more than 9% and contributing over $440 billion to the total loss. Consequently, about a third of S&P 500 companies closed at least 20% below their 52-week highs. AI
RANK_REASON The item discusses a market downturn and stock performance, with a tangential mention of an AI company, but does not report on core AI developments.
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