Despite Friday’s drop, the market is moving closer to another standout annual finish. The S&P 500 is on track for a gain of around 25% in 2024. That would mark a second consecutive yearly gain of more than 20%, the first time that has happened since 1997-1998.

Among Apple, Nvidia, Microsoft, Alphabet, Amazon, Meta Platforms, and Tesla, there's a dominant company waiting to captivate investors with a historic stock-split announcement.

The S&P 500 lost 1.1% and the Nasdaq Composite was down by 1.5%, after a selloff in Big Tech stocks. The “Magnificent Seven” group of high-performing tech stocks — Alphabet, Amazon, Apple, Meta, Microsoft,