The percentage decline of the seven major stocks in the US stock market this year has also reached double digits

On March 19th, as Meta's annual returns began to turn negative after yesterday's close, the "Big Seven" in the US stock market undoubtedly fell into a "complete annihilation" situation this year

This Facebook parent company fell more than 4% on Tuesday, continuing its recent decline. After an unprecedented 20 consecutive trading days of rising stock prices in January and February, the recent decline of the stock is undoubtedly particularly noteworthy. At the peak of the stock price, Meta's annual increase was once as high as nearly 26%, but now all of these gains have been wiped out

Justin Patterson, an analyst at KeyBanc Capital Markets, stated that due to significant investment in artificial intelligence, Meta's operational flexibility has decreased. He lowered the target price of the stock from $750 to $710, citing "increased macroeconomic uncertainty".

Patterson wrote in a report, "The challenge we see today is that the artificial intelligence cycle is increasing Meta's fixed costs, which limits its ability to cut expenses during economic downturns." The report also stated that another "Big Seven" company - Google's parent company Alphabet - is actually facing similar resistance.

Overall, since the beginning of this year, technology stocks have been under pressure due to the Trump administration's tariff policies and doubts about the direction of artificial intelligence trade development. The "Big Seven" of US technology stocks, consisting of Apple, Microsoft, Nvidia, Amazon, Tesla, Alphabet, and Meta, were once seen as the main beneficiaries of the AI wave in the industry, but this year their glory has faded away.

Tuesday's market trend is undoubtedly the best example.

Despite Nvidia CEO Huang Renxun's enthusiastic promotion at the Nvidia AI event GTC 2025 held in San Jose, California, where he not only unveiled Nvidia's latest generation of Blackwell architecture products, but also shared many valuable insights on collaborative research and development in the fields of AI networks and robotics, Wall Street's response to the speech remained relatively calm. NVIDIA's stock price fell all the way during Huang Renxun's speech.

As shown in the following chart, US technology stocks almost collectively weakened at the close on Tuesday.

At present, the cumulative decline of Bloomberg's Big Seven Total Return Index since the beginning of this year has reached 16%, which is more than 20% lower than the peak in December last year. Only two periods in history have experienced similar or worse declines: the end of 2018 and 2022.

Among them, Tesla has fallen by 44% this year, ranking last among the seven giants. It can be said that in just a few months before and after Trump took office, Tesla quickly went from being a Wall Street darling to an abandoned child. The continuous decline in its stock price has even formed a sharp contrast with the continuous rise of its industry competitor BYD. Especially in the context of BYD's release of "megawatt flash charging" technology this week, which almost completely eliminates the anxiety of electric vehicle charging.

Tesla seems to be losing its core competitive advantage as many peers are rapidly eroding its space, "said David Wagner, portfolio manager at Aptus Capital Advisors

Besides Tesla, several other "Big Seven" stocks have also experienced double-digit percentage declines this year. Among them, Alphabet fell by 17%, while Apple and Nvidia fell by 14%.

At the same time, the broader Nasdaq 100 index has fallen 7.3% so far this year, entering a correction zone earlier than the S&P 500 index - this tech intensive index is currently more than 12% below its peak.