‘Magnificent Seven’ Tech Giants Dip as Investors Flee to Safe Havens Amid Mideast Tensions
13 Junho 2025 - 10:52AM
IH Market News
U.S. tech heavyweights saw broad losses early Friday as
investors pivoted away from riskier assets in response to
escalating geopolitical tensions following Israeli airstrikes on
Iran.
The elite group of technology firms dubbed the “Magnificent
Seven” all traded in the red during early pre-market hours. Apple
(NASDAQ:AAPL) slipped 1.2%, Microsoft (NASDAQ:MSFT) lost 1.1%, and
Meta Platforms (NASDAQ:META) dropped 1.8%. Amazon (NASDAQ:AMZN)
fell by 2%, while Tesla (NASDAQ:TSLA) posted a steeper 2.6%
decline. Nvidia (NASDAQ:NVDA) and Alphabet (NASDAQ:GOOGL) also
retreated, shedding 1.8% and 1.9%, respectively, as of 4:54 a.m.
ET.
Broader market sentiment was also rattled, with Nasdaq 100
futures falling nearly 1.5%. Investors instead turned to
traditional safe havens, pushing gold prices above $3,400 per
ounce.
The downturn in equities followed a sharp escalation in Middle
East conflict, as Israel launched a series of airstrikes against
Iran. The strike is seen as a major escalation in ongoing tensions,
adding new uncertainty to already delicate international relations,
particularly surrounding Iran’s nuclear ambitions.
Before the sell-off, the Bloomberg Magnificent Seven
Equal-Weight Index had been up 1.4% for the week through Thursday’s
close. However, it remains down 2.1% for the year, reflecting
investor caution despite a strong start to the quarter.
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