Nvidia leads steep losses in Magnificent Seven shares

Nvidia's founder and CEO Jensen Huang speaks during the annual Nvidia GTC Artificial Intelligence Conference at SAP Center in San Jose, California, on March 18. 

Josh Edelson/AFP/Getty Images

Shares of the Magnificent Seven, the Big Tech stocks that have led markets higher in 2024, are tumbling.

Nvidia shares, which have been the biggest beneficiary of Wall Street’s artificial intelligence frenzy this year, slid 7.3% on Monday.

Shares of Alphabet fell 4.4%, but were off their lows of the session. That’s even after a federal judge ruled in a staggering court defeat for the tech behemoth that Google has violated US antitrust law with its search business.

Tesla shares sank 5.2%, Meta Platforms slipped 2.5%, Amazon shares lost 4.1%, Microsoft shares declined 3.3% and Apple shares shed 6.4%.