IXIC: Nasdaq Composite Drops 0.4% as Traders Dump Mag 7 Stocks with One Exception

Hot shots of the tech industry were the first out the door Tuesday — Apple, Amazon, Google, Nvidia lost 0.9% or more each as the day’s low-volume trading punished the risk takers.

📞 Nasdaq Falls in Broad Pullback

• The Nasdaq Composite index IXIC paused for breath Tuesday and futures followed suit Wednesday as big tech appeared to be out of steam. Not a full-on breakdown — just an opportunity to reset amid low-volume, low-enthusiasm trading.
• The tech-heavy index slumped 0.4% on the day with all but one of the Magnificent Seven stocks diving underwater.

💡 Tesla — Rare Bright Spot

• Guess which one? It’s Tesla TSLA (obviously, the subhead gave it away) thanks to Elon Musk’s pledge to remain in the driver’s seat as CEO for at least five more years. Also, he said in Qatar, he won’t be doing such lavish rounds of spending on political campaigns anymore. Shares of the EV maker added 0.5% for the day.
• The rest of the mag 7 club were all staring at daily losses. Nvidia NVDA gave up about 1% and so did Apple AAPL and Amazon AMZN. Microsoft MSFT and Meta META fell 0.2% and 0.5%, respectively.

📣 Google Takes on ChatGPT

• The biggest loser of the day was Alphabet GOOGL. The decline hit 1.5% after CEO Sundar Pichai announced at the Google I/O 2025 dev conference that Google is adding an all-new AI Mode designed to respond to questions in a chatbot-style conversation. In other words, no classic blue links, rather, a two-way interaction.
• Early on Wednesday, the market was slowly waking up with futures contracts showing a modest drop of about 0.3%.