From bad to worse! The "Seven Giants" have seen a cumulative market value evaporate by over $750 billion, with the Nasdaq recording its largest single-day drop in 22 years

Technology investors are experiencing a market downturn from bad to worse.

According to Zhitong Finance APP, on Monday, the Nasdaq index recorded its largest single-day drop since 2022, with the market capitalization of the seven most valuable technology companies evaporating by over $750 billion. Concerns about economic recession and trade wars have become the main factors triggering this sell-off.

Apple (AAPL.US) led the decline among tech giants, with its market value plummeting by approximately $174 billion. As one of the highest-valued companies globally, Apple's significant drop has intensified market panic.

Meanwhile, NVIDIA (NVDA.US) saw its market value evaporate by nearly $140 billion, with its stock price closing down over 5%. Since reaching an all-time high in January this year, NVIDIA has lost nearly one-third of its market value in just two months.

Tesla (TSLA.US) became the biggest loser among tech stocks, with its stock price crashing over 15%, marking its worst single-day performance since 2020. Since peaking in mid-December last year, Tesla has lost more than half of its market value and is experiencing its longest weekly losing streak since going public. On Monday, Tesla's market value shrank by $130 billion, severely impacting investor confidence.

Additionally, Microsoft (MSFT.US) and Google's parent company Alphabet (GOOGL.US, GOOG.US) saw their market values drop by $9.8 billion and $9.5 billion, respectively; Amazon (AMZN.US) lost $50 billion in market value, while Meta (META.US) evaporated $70 billion in market value.

Overall, both Alphabet and Meta fell by over 4%, while Microsoft and Amazon declined by more than 2%. The representative ETF for the tech sector, the Technology Select Sector SPDR Fund (XLK.US), plummeted by 4%, officially entering correction territory, having retraced over 14% from its historical high.

The sell-off in tech stocks is intensifying, with the Nasdaq index hitting a six-month low. Many tech companies rely on overseas supply chains and manufacturing, and the implementation of new tariffs may increase production costs, affecting profit margins. This has further triggered market concerns about a recession in the U.S. In an interview last weekend, Trump did not rule out the possibility of the U.S. falling into recession by 2025, exacerbating investor anxiety.

The semiconductor industry has become a primary target of the trade war and has been hit particularly hard. Last week, TSMC (TSM.US) announced an additional $100 billion investment in the U.S., claiming to be "the world's most powerful semiconductor manufacturer" to boost domestic chip production. However, this move failed to bolster market confidence.

The VanEck Semiconductor ETF (SMH.US) fell 3% over the past week, with a cumulative decline of over 16% since the presidential inauguration. On Monday, this ETF continued to drop by about 5%, reflecting market concerns about the semiconductor industry.

In terms of individual stocks, Marvell Technology (MRVL.US) plummeted 8%, ASML (ASML.US) and Micron Technology (MU.US) both fell by over 6%, while Broadcom (AVGO.US) dropped by 5%