U.S. stock market wipes $1.1 trillion in a day; Crash incoming?
In what seems like a record trading session on July 24, the U.S. stock market lost $1.1 trillion in value as the sell-off in large-cap stocks continued, with the members of “Magnificient Seven” alone losing more than $750 billion.
This is the worst stock market loss since 2022, with the broad market index (S&P 500) falling by 2.31% to 5,427.13, marking its first larger-than-2 % decline since February 2023.