Most of the S & P 500's gains over the past two years have been driven by the seven largest companies (Apple, Nvidia, Microsoft, Alphabet, Amazon, Meta and Tesla), which have had a rocky start to 2025, falling into correction territory and wiping about $1.40 trillion off their market capitalization. The Bloomberg Big Seven index has fallen about 10 percent from its December high. Tesla led the decline with more than a 25 percent decline for the year, followed by Microsoft and Alphabet. Tesla's share price surged after Trump's election victory, but has since been sharply sold off. Tesla's stock has been mired by a string of poor sales reports and increased competition. However, as investors have embraced Meta's artificial intelligence strategy, the company's shares have bucked the trend this year. Meta recorded its longest streak ever in February, rising for 20 consecutive trading days and adding more than $320 billion to its market value.