Tech Giants Hover on Cusp of a Correction as War Heats Up

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000US Stocks:A swoon in US stocks has left technology giants on the brink of a correction as the war in Iran drives up oil prices and sparked inflation worries. Bloomberg’s gauge of Magnificent Seven companies — which includes titans like Nvidia Corp., Apple Inc. and Tesla Inc. — dropped 1.6% at 2:05 p.m. in New York, and is down nearly 10% from its October peak. The group briefly tumbled into a correction earlier this month, but has yet to close below that level. The declines weighed on the Nasdaq 100 Index, pushing it down 1.4%.