The technology sector, particularly the 'Magnificent Seven' group of Big Tech companies, experienced a significant decline today along with the broader market, with a combined loss of hundreds of billions in market value. This downturn was triggered by a weak jobs report on Friday and shrinking manufacturing activity in the world's largest economy, fueling concerns about the broader US economy and the likelihood of a recession. Additionally, concerns about large AI spendings and slowing growth in key areas weighed on sentiment, despite overall positive earnings. Apple in particular was under more pressure after data revealed Berkshire Hathaway's decision to halve its stake in the company, suggesting that prominent investors could be leaving the sector. These factors have contributed to the aggressive selloff, which may expand if the current risk-off sentiment continues to weigh on the market.