Tech Giants Stumble in Earnings, Wiping Out $200 Billion in Value

Big tech companies like Alphabet, Tesla, Meta, and Microsoft recently posted disappointing earnings, wiping out about $200 billion in market value.

The "Magnificent Seven" tech giants have powered this year's stock rally, but optimism is fading due to higher interest rates and geopolitical tensions.

Meta's weak earnings outlook weighed on markets, after Alphabet lost nearly $180 billion in value following disappointing cloud profits.

Microsoft was the only bright spot, adding $75 billion in market value after beating expectations.

Amazon reports earnings Thursday, with its cloud business seen as a barometer for Alphabet and Microsoft's AI efforts.