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The Cboe Volatility Index ( VIX ) soared to its highest level since March 2020 .
Apple (AAPL), Nvidia ( NVDA ) and Tesla (TSLA) plunged Monday .
Palantir Technologies ( PLTR ) surged on earnings after the close.
Financial markets are suddenly pricing in a strong likelihood of 1.25 percentage points in Federal Reserve rate cuts by the end of the year .
Amazon , Apple and Microsoft among Dow Jones stocks in the Magnificent Seven tumbled Monday .
Tesla stock skidded 4.2% Monday , breaking down through the 50- and 200-day lines.
Shares bounced 2.5% late Monday , moving up 1.7% in extended trading.
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