Five Magnificent 7 Names Fall More Than 10% While the S&P 500 Stays Near Record

Five of the Magnificent 7 megacaps have slipped more than 10% from their all-time highs, according to a post from @BullTheoryio on X, and two of them are deep enough to count as bear markets. Google is nursing the steepest drop on the list at 31.4% below its peak, followed by Meta at 22.5% down. Those two are the pair already in bear-market territory, since the label kicks in at a 20% decline.

The rest of the group is bruised but shallower. Tesla is off 17.9% from its high, Amazon is down 16.0%, Nvidia has given back 12.9% and Microsoft is the mildest of the bunch at 6.5% below its peak. That leaves Microsoft as the only one of the six listed names not down by double digits.

What makes the number-crunch land is the backdrop. The S&P 500 is trading just 1.8% below its all-time high, per the same post — a whisker away from a record while some of its heaviest hitters are a long way from theirs. The gap is the story: the damage is concentrated in a handful of megacap names rather than the broad index.

The Magnificent 7 — the cluster of giant tech and growth stocks that powered the long run higher — have been the market's main engine, which makes their divergence from the benchmark a watched signal. Google and Meta carry the deepest wounds, while Microsoft has held up best of the group cited.

For now, the scoreboard reads like two different markets stitched together: one index shrugging near its highs, and a leadership group quietly taking hits. Anyone tracking the Magnificent 7 will be watching whether the S&P 500's calm holds if the drawdowns keep widening.