Three Mag 7 Stocks Turn Negative Year-To-Date Following Recent Market Sell-Off – Apple’s Not One Among Them

• Amazon, Meta, and Tesla gave up their year-to-date gains on Friday.
• The broader market staged a recovery in Friday morning’s trade following Thursday’s losses, after New York Fed President John Williams’ comments about room for a further rate cut drove some optimism.
• The Dow Jones Industrial Average was up by more than 600 points at the time of writing, while the S&P 500 index rose more than 1%.

Alphabet Inc.’s Class A shares were leading the year-to-date gains among Mag 7 stocks at the time of writing, followed by Nvidia. However, Amazon, Microsoft, and Meta gave up their YTD gains on Friday.

Broader Markets

The broader market staged a recovery in Friday morning’s trade following Thursday’s losses, after New York Fed President John Williams’ comments about room for a further rate cut drove some optimism.

The Dow Jones Industrial Average was up by more than 600 points at the time of writing, while the S&P 500 index rose more than 1%.

Over the past five trading sessions, the DJIA and the S&P 500 have declined by nearly 2%, while the Nasdaq 100 index is down by over 3%.

The CNN Fear and Greed Index was hovering in the ‘Extreme Fear’ zone at 6. The last time it was at this level was on Apr. 10, 2025.

Williams’ Comments Boost Sentiment

Earlier on Friday, Williams stated that while it is necessary to bring inflation back to the Federal Reserve’s long-term goal of 2%, it is equally important to do so without creating undue risks to the goal of maximum employment.

He added that there is room for a further rate adjustment, which could increase the odds of a December cut. According to data from the CME FedWatch tool, the probability of a 25-basis-point rate cut in December is now 71.3%, up from 39.1% a day ago.

Meanwhile, U.S. equities were up in Friday’s midday trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 1.24%, the Invesco QQQ Trust ETF (QQQ) gained 0.96%, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) rose 1.55%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bearish’ territory.

The iShares 7-10 Year Treasury Bond ETF (IEF) was up 0.17% at the time of writing.

Also See: Fed Rate Cut Odds For December Nearly Double After NY Fed’s Williams Signals ‘Room For Further Adjustment’

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