In early Monday trading, Tesla (NASDAQ:TSLA) and six other major tech stocks, collectively known as the ‘Magnificent Seven,’ saw modest declines amid growing worries over global trade tensions and geopolitical instability.
The group includes Tesla, Alphabet (NASDAQ:GOOGL), Nvidia (NASDAQ:NVDA), Meta (NASDAQ:META), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), and Microsoft (NASDAQ:MSFT). Tesla shares dropped 2.1%, while Alphabet bucked the trend with a 1.3% gain. The other five stocks—Nvidia, Meta, Amazon, Apple, and Microsoft—each fell slightly, with losses under 1%.
On Monday, China’s Ministry of Commerce pushed back against U.S. President Donald Trump’s recent claim that Beijing had breached the trade agreement reached in Geneva last month, intensifying the trade dispute between the world’s two largest economies.
This heightened tension was mirrored in the futures market, where both S&P 500 and Nasdaq 100 futures declined roughly 0.5%, signaling investor caution heading into the trading day.