Excluding the "Magnificent Seven" Stocks, Here's How the Market Is Performing in 2026

2026-02-28 17:23:00 ET

It's been a tough year so far for the "Magnificent Seven" tech stocks.

Those seven tech behemoths wildly outperformed most other stocks over the past three-plus years and pushed stock indexes like the S&P 500 and the Nasdaq Composite significantly higher -- to new records. Those seven stocks began to attract significant capital after OpenAI released the original ChatGPT in late 2022, beginning the investor mania surrounding artificial intelligence (AI).

But in recent months, investors have grown nervous about allocating more capital to the overcrowded AI trade, which has been the essential appeal of the seven stocks for several years. As a result, the Magnificent Seven stocks are down about 4.9% this year, as measured by the Roundhill Magnificent Seven ETF (NYSEMKT: MAGS) . In fact, that ETF peaked back in late October 2025, so they've been drifting downward for about four months.

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