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The Nasdaq composite and S&P 500 tumbled to below their 50-day lines.
The small-cap Russell 2000 also fell sharply, though looks less damaged.
Tesla (TSLA) dived on earnings while Google-parent Alphabet (GOOGL) fell solidly.
The Magnificent Seven suffered its worst one-day loss since October 2022 .
The CBOE Volatility Index, or VIX , spiked 22.55% to 18.04 .
Google stock tumbled 5% to 172.63 , clearly below the 50-day line and to its worst levels since early June .
Google signaled higher expenses in Q3 , raising margin concerns.
The Magnificent Seven stocks lost 4.6% on Wednesday , their worst collective loss since Sept. 13, 2002 .
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