The stock markets are experiencing a significant sell-off, primarily driven by recession fears linked to tariff disputes. The Magnificent Seven stocks, including Tesla, are seeing notable declines, with Tesla shares dropping by 8%. Analysts like JPMorgan indicate that most of the selling momentum is nearing its end, though they warn of potential further unwinding. Additionally, Palantir Technologies has announced a new AI partnership but is still trading significantly lower than its peak. Overall, major indices such as the Nasdaq Composite and Dow Jones are reflecting these market pressures.
The markets are extending their sell-off with steep losses across the board on recession fears.
Tesla, along with other Magnificent Seven stocks, is witnessing a downturn as recession concerns loom, leading to significant stock declines.
JPMorgan economists suggest that about 90% of the sell-off momentum is complete, although they caution that the unwinding process may have further to go.
Palantir Technologies stock has plummeted 6% after announcing an AI partnership, now trading 36% below its 52-week high.
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