Following the announcement of widespread tariffs by Trump on Wednesday, the Magnificent Seven stocks experienced a decline. Apple faced the most significant drop as it has a substantial manufacturing presence in China, which was subjected to a 34% import tax. Analysts from JPMorgan estimated that Apple would need to increase its prices by 6% to counter the impact of the tariffs. The tariffs imposed by Trump led to a 9% fall in Apple's shares, raising concerns about potential repercussions if China imposes retaliatory tariffs. Other companies in the Magnificent Seven, such as Amazon, Nvidia, Meta, Tesla, Alphabet, and Microsoft, also saw their stocks decline. The Roundhill Magnificent Seven ETF, which monitors these companies, recorded a more than 10% drop in March, with all seven companies trading negatively for the year.