The Nasdaq is down -11% from its recent peak, slipping into correction territory for the first time since the April 2025 CRASH.

It is now trading at levels last seen in July 2025, effectively erasing 7 months of gains.

The Magnificent 7 stocks are down even further, -15.8% from their highs, approaching the scale of the Summer 2024 drawdown of -17.0%.

Trendlines are breaking, momentum is fading, and more names are slipping below key levels simultaneously, including $META and $MSFT.

US markets are not so Magnificent anymore.