Big Tech ETF deepens losses as tariff worries pressure U.S. stock market

The Roundhill Magnificent Seven ETF — which holds seven closely watched Big Tech stocks, including Apple Inc., Microsoft Corp., Google parent Alphabet Inc., Amazon.com Inc., Nvidia Corp., Tesla Inc., Meta Platforms Inc. – was down 2% Tuesday morning, according to FactSet data, at last check. That brought the ETF’s loss so far this week to more than 5%.

Big Tech stocks have outsized weightings in the widely followed S&P 500 index, which was slumping 1.7% in late morning trade as investors appeared spooked by President Trump’s tariffs on Mexico and Canada taking effect Tuesday.