The “Magnificent Seven” lose more than $1 trillion in a day as the Nasdaq enters correction

The material received is only a short excerpt from The Wall Street Journal's live coverage of the November 5, 2026 trading session. It is not the full article, so this summary is limited to what the text literally says.

According to the coverage's headline, the Nasdaq plunged 5.5% and investors retreated from the "AI trade" after the elections.

Reporter Vicky Ge Huang notes that the "Magnificent Seven" group was on track to lose more than $1 trillion in market value, while the Nasdaq entered correction territory.

The text puts the combined drop in these seven stocks' market capitalization at $1.13 trillion for the session. According to the WSJ, they were on track for the largest single-day loss in market capitalization ever recorded, surpassing the post-"Liberation Day" plunge.

Tesla led the losses, with its shares falling more than 10%.

The excerpt does not explain the causes in detail beyond mentioning the elections and the retreat from the AI trade. Nor does it provide data on other companies or on how the session developed afterward. The original coverage should be consulted for full context.