George Soros' firm dumped $73 million in Alphabet and Amazon before the July nosedive

George Soros and Stanley Druckenmiller’s investment firms trimmed their holdings in “Magnificent Seven” stocks before this year’s ebullient run-up in technology companies gave way to a major downturn in mid-July. Soros Fund Management sold some of its stake in Alphabet Inc. totaling $58 million, and about $15 million of Amazon.com Inc., according to regulatory filings for the three months ended in June. Druckenmiller was among investors paring stakes in Nvidia Corp., the chipmaker whose soaring price accompanied investor fervor for artificial intelligence companies. His Duquesne Family Office sold more than...