US-Iran Conflict Triggers $1.72 Trillion Market Capitalization Drop Among Seven Tech Giants

US Stock Market Report: Israel-US-Iran War Impacts Dow Jones and S&P 500

The US stock market has continued to decline over the past four weeks due to the ongoing Israel-US-Iran war, with major indices experiencing significant losses. The Dow Jones Industrial Average index entered corrective territory after five straight weeks of losses, while the S&P 500 index dropped to its seven-month low, retracing around 9% from its record high of $7,002.28 in January 2026.

The Magnificent 7 stocks, representing around one third of the S&P 500 index, have also registered heavy losses. The total market cap of these stocks has fallen by $1.72 trillion during the four weeks of the war. Alphabet leads the pack, with a market cap loss of $450 billion, followed by Meta Platforms, whose shareholders have lost $310 billion.

Market Cap Loss of Magnificent 7 Stocks

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The share prices of these stocks have also declined significantly. Alphabet's share price fell from $311.43 to $273.76, while Meta Platforms' share price nosedived from $648.18 to $525.72. Microsoft's stock price crashed from $392.74 to $356.77, resulting in a $270 billion dip in market cap.

The war has also impacted oil prices, with the price of Brent crude oil climbing 3.4% to settle at $105.32 per barrel, and benchmark US crude rising 5.5% to settle at $99.64 per barrel. Strategists at Macquarie predict that oil prices could reach $200 per barrel if the war continues until the end of June.

The war's impact on the global economy is also a concern, with the possibility of disrupting the Persian Gulf's energy industry and sending a wave of inflation through the global economy. This could lead to higher prices for gasoline, electricity, and other energy-intensive products.

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