US Stock Market Move | Nasdaq plunges over 3%, seven giant technology stocks collectively fall

On Monday, the Nasdaq Composite Index plummeted more than 3%, with the seven tech giants in the US stock market collectively falling. Tesla, Inc. (TSLA.US) dropped over 9%, while NVIDIA Corporation (NVDA.US), Apple Inc. (AAPL.US), Alphabet Inc. Class CA (GOOGL.US), and Meta (META.US) all fell more than 4%. Amazon.com, Inc. (AMZN.US) and Microsoft Corporation (MSFT.US) also dropped more than 2%. On the news front, US President Donald Trump stated over the weekend that the US economy is facing "a transitional period," attempting to downplay market concerns about economic slowdown. However, his earlier focus on tariff policies and federal job cuts has caused market turmoil. Trump promised to implement policies to "promote growth" when he was elected, but his chaotic tariff policy, tough stance on Ukraine, and government spending cuts, along with the already weakened economic situation, are exacerbating investor concerns about stagnation and even economic recession.