The US stock market has evaporated over a trillion this week, falling for five consecutive weeks to a new low. The "seven giants" have collectively lost about 870 billion dollars.

BlockBeats news, on March 28, the S&P 500, Nasdaq, and Dow Jones all fell this week, marking the longest consecutive five-week decline since 2022. The total market capitalization of the seven tech giants shrank by about $870 billion in one week, with the Nasdaq down more than 13% from its peak in October last year.

This week, U.S. stocks weakened significantly under multiple negative pressures. By Friday’s close, the Dow Jones plunged 793 points in a single day, the S&P 500 fell to a seven-month low, and the Nasdaq further entered a technical correction zone. The average maximum drawdown of the 500 stocks in the S&P 500 has reached 17%, while the average maximum drawdown of Nasdaq stocks is even higher at 31%, indicating that the actual damage is far worse than the index numbers suggest.

The tech sector was hit hardest. Meta fell about 12% in one week due to the dual pressure of losing two child safety lawsuits and layoff news; Tesla and Amazon both saw declines of over 3%; Nvidia was dragged down by shrinking expectations for AI capital expenditures, dropping nearly 5%.

The total market capitalization of the “seven giants” evaporated by about $870 billion over the week, equivalent to over 6.3 trillion yuan. From a market structure perspective, the breadth and depth of this decline should not be underestimated. Although the main indices fell between 7% and 13%, more than half of the individual stocks have dropped over 20% from their respective peaks, entering a technical bear market.