Tech Giants and Market Volatility: $625 Billion Wiped Out, Summer Doldrums, and Investor Sentiment

Apple, Microsoft, Tesla, and Meta collectively lost $625 billion in market value this month, with Apple leading the decline with a $314 billion slump. The tech selloff is likely influenced by seasonal trends, as August historically tends to be a weak month for equities. The broader decline in US equities, triggered in part by higher bond yields, has also contributed to the slump. Despite this, Nvidia, a semiconductor company, has defied the trend and experienced a successful year.