Nasdaq wipes $600 billion off market cap in 3 days; What's going on?

With 2023 posting solid numbers in the stock market, the beginning of this year doesn’t look too promising, with the Nasdaq index losing hundreds of billions in market capitalization in just a couple of hours.The Nasdaq Composite has experienced a decline of almost 4% within the past three trading days, eliminating approximately $600 billion in market capitalization. This downturn has erased all gains since December 13 and led to the ‘Magnificent Seven,’ a group of influential technology stocks decreasing b ...