The group of high-performing tech stocks known as the 'Magnificent Seven,' which includes companies like Nvidia and Microsoft, has collectively lost $2.6 trillion in market cap over a 20-day period leading up to a significant earnings week. These companies, such as Google, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, have outperformed the S&P 500 since 2022. Microsoft has already reported its earnings, while Meta, Apple, and Amazon are set to do so soon. The results from these tech giants could impact higher-risk asset markets, including cryptocurrency. Nvidia has seen a significant stock slump, losing $800 billion in market cap. Other companies like Microsoft and Apple have also experienced declines. Despite this, the total crypto market cap has increased by 11% during the same period, showing a divergence in performance. Read more AI-generated news on: https://app.chaingpt.org/news