Tesla drags down the index market value by $1.4 trillion, and the "Big Seven" index enters the adjustment range

Odaily News Most of the gains in the S&P 500 over the past two years have been driven by the seven largest companies (Apple, Nvidia, Microsoft, Alphabet, Amazon, Meta and Tesla), which have had a rough start to 2025 and have fallen into a correction range, wiping out about $1.4 trillion in market value. The Bloomberg "Big Seven" index has fallen about 10% from its high in December last year. Tesla led the decline with a year-to-date drop of more than 25%, followed by Microsoft and Alphabet. Tesla's stock price once soared after Trump won the election, but has since been sold off sharply. Tesla's stock price has been troubled by a series of poor sales reports and increased competition. However, the company's stock price has risen against the trend this year as investors recognize Meta's artificial intelligence strategy. Meta set its longest winning streak ever in February, rising for 20 consecutive trading days and adding more than $320 billion in market value. (Jinshi)