Stock performance data from financial news outlets like Bloomberg or Reuters

U.S. Stock Market Loses Over $1.1 Trillion as S&P 500 Drops 2.3% and Nasdaq-100 Plummets

Jul 24, 2024, 08:43 PM

The U.S. stock market experienced a significant downturn, with the S&P 500 losing over $1.1 trillion in market capitalization. The S&P 500 closed down 2.3% for the first time in 357 trading days, marking its worst day since December 2022 and ending its longest streak without a 2%+ decline since 2007. The Nasdaq-100 Index ($QQQ) also had its worst day since October 2022. This selloff wiped out hundreds of billions of dollars in value from major tech companies, including the Magnificent Seven group of tech giants.