U.S. tech heavyweights saw broad losses early Friday as investors pivoted away from riskier assets in response to escalating geopolitical tensions following Israeli airstrikes on Iran.

The elite group of technology firms dubbed the “Magnificent Seven” all traded in the red during early pre-market hours. Apple (NASDAQ:AAPL) slipped 1.2%, Microsoft (NASDAQ:MSFT) lost 1.1%, and Meta Platforms (NASDAQ:META) dropped 1.8%. Amazon (NASDAQ:AMZN) fell by 2%, while Tesla (NASDAQ:TSLA) posted a steeper 2.6% decline. Nvidia (NASDAQ:NVDA) and Alphabet (NASDAQ:GOOGL) also retreated, shedding 1.8% and 1.9%, respectively, as of 4:54 a.m. ET.

Broader market sentiment was also rattled, with Nasdaq 100 futures falling nearly 1.5%. Investors instead turned to traditional safe havens, pushing gold prices above $3,400 per ounce.

The downturn in equities followed a sharp escalation in Middle East conflict, as Israel launched a series of airstrikes against Iran. The strike is seen as a major escalation in ongoing tensions, adding new uncertainty to already delicate international relations, particularly surrounding Iran’s nuclear ambitions.

Before the sell-off, the Bloomberg Magnificent Seven Equal-Weight Index had been up 1.4% for the week through Thursday’s close. However, it remains down 2.1% for the year, reflecting investor caution despite a strong start to the quarter.

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