00:00It's Benzinga, and here's what's on the block.
00:02The seven most valuable U.S. tech companies lost a combined $1 trillion in market value
00:07on Monday as markets opened.
00:09Nvidia saw its market cap drop over $300 billion initially, though it recovered about half
00:14its loss by the end of the day.
00:16Apple and Amazon also saw major drops of over $200 billion and $100 billion, respectively.
00:23The tech-heavy Nasdaq index was down over 3 percent following its steepest three-week
00:27decline in two years, pushing it into correction territory.
00:31Recent earnings reports from Amazon, Alphabet, and Microsoft reignited investor worries after
00:36months of heavy spending on AI infrastructure by tech giants.
00:39For all things money, visit Benzinga.com.
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