More than $280 billion has been wiped from the “magnificent seven” tech stocks following the release of several earnings reports on Oct. 25, triggering fears of a looming tech recession.

The so-called “magnificent seven” refers to the top seven blue-chip tech firms including Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla — who combine to make up a quarter of the value of the S&P 500 index.

Google parent company Alphabet saw its share price fall over 9%, wiping $180 billion from its market cap and was noted as Google’s worst-performing day since the COVID-19 pandemic hit in March 2020.

Google’s (Alphabet Inc Class A) share price over the last five days. Source: Google Finance

The share prices of Amazon, Nvidia, and Meta fell 5.5%, 4.3%, and 4.2% respectively, according to Y Charts.

Apple and Tesla’s fall in share prices were less severe at 1.35% and 1.9%, while Microsoft was the only one of the seven to buck the trend, with its share price rising 3.1% after reporting better-than-expected growth in its Azure business.