 I'm Charles Payne, and this is the Fox Business Report. Big tech stocks taking a beating, pushing the Nasdaq down sharply. The so-called Magnificent Seven tech stocks all trading lower. Inflation in June was lower than economists predicted it would be. Consumer prices were 3% higher from last June, a tenth of a percent lower than May, according to the Commerce Department. The IRS says it has collected $1 billion in back taxes from high wealth tax cheats.