Rough day for stocks on Thursday and it's pretty clear why tech is down today - the Magnificent Seven just couldn't hold their ground. S&P 500 dropped 1.57%, Nasdaq got hit harder at -2.04%, and the selloff in mega-cap tech stocks like Apple (-5%+), Amazon, Meta, and Tesla (-2%+) dragged the whole market down with them.

The tech weakness seemed to spill over into other sectors too. Cisco got crushed, down more than 12% after warning that chip costs are going to hurt their margins. Then there's the AI angle - trucking and logistics companies tanked on fears that automation could disrupt their business model. Landstar and CH Robinson both fell 14-15%.

Crypto stocks felt the pressure as well, with Bitcoin dipping over 3% to around $68.2K. That pulled down the usual suspects - Coinbase, Riot, Marathon all down 4-7%.

On the bright side, bond yields fell as the market got nervous. The 10-year dropped to 4.10%, which helped some defensive plays. A few companies beat expectations too - Cognex jumped 37% on solid earnings, and Equinix rallied 10% after raising guidance.

Earnings season is still rolling with solid beats overall - 76% of companies reporting have beaten expectations so far. But clearly the market is worried about what this tech selloff means for growth ahead. Economic data this week will be key to watch, especially with CPI coming Friday.