US stock market on the verge of largest loss today: Dow, S&P 500, Nasdaq 100 wiped out over 1.5% as losses accelerate; Magnificent Seven stocks take Trump tariff toll — check the biggest losers here

US stock market plunge accelerated sharply today, with the Dow Jones Industrial Average falling 814.40 points, or 1.64%, to 48,811.57. The S&P 500 dropped 85.19 points, or 1.23%, to 6,824.32. The Nasdaq Composite slid 330.23 points, or 1.44%, to 22,555.84. In short, all three major US stock market indices are down more than 1%, signaling broad-based risk aversion.

The sell-off intensified after President Donald Trump warned of higher tariffs following a Supreme Court decision that struck down his sweeping tariff policy. Investors are reacting to renewed trade war volatility, rising geopolitical risk, and mounting concerns over Big Tech earnings and AI spending.

The group of elite tech stocks that drove the S&P 500 to record highs is now the epicenter of the selloff.


Tesla is today's most visible casualty among large caps, falling 3.31% to $398.20 — shedding $13.62 per share in a single session. Amazon dropped 2.97% to $203.86, losing $6.25 per share. Both stocks are now down more than 8% year-to-date, wiping out billions in market capitalization since January.

Treasury yields fell across the curve, with the 10-year yield down to 4.03%, showing a defensive shift into bonds. Meanwhile, Bitcoin dropped 3.09% to $65,475, and gold surged 2.83% to $5,224.60, highlighting a classic risk-off rotation. Today’s market action reflects not just headline risk, but deeper structural concerns around valuations, capital expenditure pressure, and slowing earnings momentum in the tech-heavy Nasdaq 100.

Dow drops 814 points as S&P 500 and Nasdaq slide over 1%

The US stock market is witnessing a massive liquidation today, February 23, 2026, with all major indices diving more than 1.5% in a high-velocity sell-off. The Dow Jones Industrial Average plummeted by 814.40 points (1.64%) to 48,811.57, while the S&P 500 and Nasdaq Composite surrendered 1.23% and 1.44% respectively. This aggressive downturn follows a pivotal Supreme Court ruling that struck down President Donald Trump’s sweeping emergency tariff policies, triggering an immediate and fiery retaliation from the White House.

President Trump warned via Truth Social that any country attempting to "play games" with the decision would face even higher, non-discriminatory tariffs under Section 122, causing trade war volatility to spike to levels not seen since the 2025 cycle.

The renewed trade war rhetoric has become the central driver of today’s stock market news. President Trump posted that countries attempting to “play games” after the Supreme Court ruling would face much higher tariffs. That statement revived fears of escalating global trade tensions just as markets were stabilizing. Investors immediately priced in potential disruptions to supply chains, higher import costs, and margin pressure for multinational corporations.

As a result, the Dow Jones, S&P 500, and Nasdaq 100 all moved sharply lower in afternoon trading. Trade war volatility has historically amplified market swings, and today’s move suggests traders are hedging against a prolonged policy fight rather than a short-term headline.

Magnificent Seven Stocks: The Biggest Losers in Today's Market Crash

Big Tech weakness is amplifying the decline. The so-called “Magnificent Seven” stocks, which powered record highs in recent years, are no longer acting as market stabilizers. Microsoft is down nearly 18% year to date. Tesla has fallen more than 8% this year and dropped 3.31% today to $398.20. Amazon shed 2.97% today to $203.86 and is also down over 8% in 2026. Alphabet is roughly flat for the year, while Nvidia is up just 1% despite heavy AI optimism.

The Roundhill Magnificent Seven ETF (MAGS) is down nearly 6% year to date, underscoring the shift in investor sentiment. Concerns are growing about soaring capital expenditures on artificial intelligence infrastructure and whether earnings growth can justify current valuations. Rapid improvements in AI models and intensifying competition are also increasing uncertainty.

Market breadth today shows heavy participation in the sell-off. Among active stocks, Novo Nordisk ADR plunged 15.85% to $39.91. SoFi Technologies fell 6.18% to $17.84. Opendoor declined 2.58% to $4.87. However, there were pockets of strength. Vanda Pharmaceuticals surged 41.82% to $8.17, and ImmunityBio gained 16.15% to $10.11. Nvidia rose modestly by 0.45% to $190.68, showing selective resilience in semiconductor stocks. Still, the overall tone remains defensive.

Bond markets confirm the risk-off narrative. The 2-year Treasury yield fell to 3.446%, down 0.034 percentage points. The 5-year yield declined to 3.588%, and the 10-year Treasury yield dropped 0.051 points to 4.03%. Falling yields typically signal demand for safe-haven assets during equity market volatility. Meanwhile, commodities are sending mixed signals. Gold futures jumped 2.83% to $5,224.60, and silver surged 5.66% to $87.00, reflecting inflation hedging and safety flows. Copper slipped 0.69%, suggesting concerns about global growth.

Cryptocurrency markets are also under pressure. The Nasdaq Crypto Index fell 3.90% to 3,148.11. Bitcoin dropped more than $2,000 to $65,475, down 3.09%. Ether fell 3.21% to $1,888.93. When both equities and crypto decline together while gold rises, it often indicates tightening liquidity conditions and heightened macro uncertainty.

Here are the biggest losers in the US stock market today

GOSS – Gossamer Bio, Inc.
Plunged 81.53% to $0.39 on massive 102M volume.
Stock trades near its 52-week low of $0.37 after heavy sell-off pressure.

UHG – United Homes Group, Inc. Class A
Dropped 51.47% to $1.16 in sharp intraday decline.
Selling intensified as risk-off sentiment hit small-cap housing stocks.

AIDX – 20/20 Biolabs, Inc.
Fell 40.05% to $8.86 during volatile trading.
Shares now far below their 52-week high of $50.00.

WSHP – WeShop Holdings Ltd. Class A
Slid 33.42% to $15.00 on light 52K volume.
Stock remains sharply off its 52-week high of $250.00.

NBY – NovaBay Pharmaceuticals, Inc.
Lost 29.67% to $2.11 amid biotech weakness.
Shares hover just above their 52-week low of $2.00.

ABTS – Abits Group Inc
Declined 26.54% to $2.74 in broad market sell-off.
Stock remains volatile within its $1.35–$10.86 yearly range.

IPW – IPOWER, Inc.
Dropped 25.23% to $2.43 on moderate volume.
Now trading near its 52-week low of $2.38.

BYAH – Park Ha Biological Technology Co., Ltd. Class A
Fell 24.26% to $1.73 in heavy risk-off trading.
Stock sits near its 52-week low of $1.70.

SCL – Stepan Co
Sank 20.37% to $53.53 during broad equity weakness.
Still above its 52-week low of $41.82.

CRGO – Freightos Limited
Dropped 20.05% to $1.77 amid market volatility.
Shares trade close to their yearly low levels.

Investors are now asking whether this US stock market sell-off could deepen. Historically, sustained trade disputes tend to impact corporate earnings guidance, especially for companies with large international exposure. Higher tariffs can increase input costs, compress margins, and reduce consumer demand. If earnings revisions turn negative in coming weeks, analysts may cut price targets, adding further pressure on equities. In addition, valuation multiples remain elevated in segments of the Nasdaq 100, leaving limited room for disappointment.

Another key factor is artificial intelligence spending. Tech giants have committed billions to AI infrastructure, data centers, and chip purchases. While AI remains a long-term growth driver, the short-term cash flow impact is significant. Investors are questioning whether returns on AI investments will materialize quickly enough to justify the surge in capital expenditures. This debate is contributing to volatility in technology stocks, which carry heavy weightings in both the S&P 500 and Nasdaq indices.