QUICK SPARK: Magnificent Seven Eye Worst Day Since Trump's Tariff Turmoil

The Roundhill Magnificent Seven ETF (BATS:MAGS), which tracks the seven largest U.S. technology companies, fell 4.25% Thursday morning, on pace for its worst session since April 2025.

Tesla Inc. (NASDAQ:TSLA) led the drop, down 12.31% after adjusted earnings of 33 cents a share missed the 51 cents analysts expected. Alphabet Inc. (NASDAQ:GOOGL) fell 6.79% after lifting its 2026 capital spending forecast to as much as $205 billion.

Both reported negative free cash flow, the money left after paying for factories, chips and data centers. Alphabet’s went negative for the first time as a public company.

Rising oil prices also affected risk sentiment. Brent crude topped $100 a barrel for the first time since May after Houthi attacks on tankers off Saudi Arabia, sending the 10-year Treasury yield to its highest level since January 2025.

Every one of the seven is red. Even Microsoft Corp. (NASDAQ:MSFT), which does not report until next week, is down 1.30%.

Image: Shutterstock