The S&P 500 was down 0.3% on Tuesday after trading higher earlier in the morning. The Dow, which had been lagging all morning, was off 231 points, or 0.5%. The Nasdaq Composite was down 0.2%.

The major indexes had been losing steam since the open, when Magnificent Seven stocks were among the leaders. Now, only Alphabet is rising among the group of megacap tech stocks. Meta Platforms was the biggest laggard with a drop of 1.3%, followed by Apple, down 0.9%. Tesla and Amazon.com were both down about 0.5%, while Nvidia and Microsoft were down 0.1%.