The "Magnificent Seven" tech stocks enjoyed a short-lived rebound Tuesday — with Nvidia (NVDA) and Tesla (TSLA) rising as much as 8% and 7%, respectively — before the group reversed course and ended the day in negative territory as impending reciprocal tariffs dragged the market lower.

Tesla and Apple (AAPL) posted the steepest losses, both dropping roughly 5%.

Amazon (AMZN) fell 2.6%, while Google (GOOG) dropped 1.8%. Nvidia and Meta (META) declined more than 1%, and Microsoft (MSFT) dipped just under 1%.

The group's declines have shaved $315 billion from their market caps, cumulatively, and brought their total losses since the April 2 announcement of President Trump's two-step global tariff plan to $2.1 trillion. Apple's losses are the deepest, with the iPhone maker shedding $773 billion from its market cap since April 2.

Trump's agenda includes a baseline tariff of 10% on all global imports, which went into effect over the weekend, as well as "reciprocal" tariffs set to take effect tomorrow (April 9). That includes a staggering 104% tariff on imports from China, a figure the White House announced Tuesday, up from the original 54% import tax planned for the country.

The tariffs would deeply affect Big Tech stocks, many analysts have said, because of the companies' reliance on global supply chains.

Read more: What Trump's tariffs mean for the economy and your wallet

For example, 90% of Apple's iPhones are made in China, many Tesla electric vehicle components are sourced outside the US, and Nvidia products are imported from Mexico and Taiwan. Making matters worse, some 50% of Magnificent Seven firms' revenue comes from abroad, Apollo chief economist Torsten Sløk said in a blog post Monday. (Disclosure: Yahoo Finance is owned by Apollo Global Management.)

But Nvidia AI servers imported from Mexico are exempt from tariffs under the United States-Mexico-Canada agreement, according to Bernstein analyst Stacy Rasgon.

Microsoft is set to suffer the least of the group from Trump's tariffs because it has "the lowest exposure to consumer spending" and "a more predictable business coming from enterprise technology spending," DA Davidson's Gil Luria told Yahoo Finance in an email.

The brief Mag Seven recovery came Tuesday amid news of bilateral trade talks with Japan, which boosted investor hopes that the White House could cut trade deals with other nations.

US stock futures tied to the S&P 500 (ES=F), the tech-heavy Nasdaq 100 (NQ=F), and the Dow Jones Industrial Average (YM=F) all jumped early in the day but later reversed direction.