---
symbol: "MAGS"
name: "Roundhill Magnificent 7 ETF"
date: 2026-10-29
change_pct: -3.027696299638997
direction: "down"
event_type: "sector_sympathy"
url: "https://perplo.app/why/MAGS/2026-10-29"
updated_at: 2026-10-29T21:07:37.339Z
---

# Why Roundhill Magnificent 7 ETF (MAGS) fell 3.03% on October 29, 2026

Roundhill Magnificent 7 ETF (MAGS) fell 3.03% on October 29, 2026 — Tech selloff pulls Mag 7 lower as Google dives.

## What happened

A broad tech selloff hit the Magnificent 7 as Google fell sharply after earnings, while ServiceNow and Fortinet also dived on their results and Microsoft only recovered late in the session.

## Why it moved

Because MAGS holds the same megacaps, a sharp drop in Alphabet and the earnings-driven weakness across software and security names pulls the whole basket lower.

## Why it matters

This is part of the Mag 7 earnings cycle theme, where the group's share prices are being repriced quarter by quarter on whether AI spending is translating into revenue.

## What would break the thesis

If the remaining Mag 7 reports show strong AI-driven growth, the group could recover quickly and erase this drop.

## Sources

- [Dow Jones Futures: Microsoft Rises Late, But Google, ServiceNow And Fortinet Dive On Earnings](https://finnhub.io/api/news?id=7d0657df8f92023442fe524cbc7163fd485d0a7b262edc5f2a9ebf7af0b7fb75) — Yahoo

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