U.S. equities were mostly lower the last week of February, hurt by notable weakness in Big Tech with all Magnificent Seven mega cap stocks posting declines. Investor sentiment pulled back, following tariff pronouncements and weakening growth prospects. Barring a last-minute reversal, the U.S. will impose 25% tariffs on all imports from Canada and Mexico on Tuesday, March 4 except for 10% tariffs on Canadian oil. A further 10% levy on Chinese goods was also announced. A surprise 0.2% decline in personal spending in January (down from an upwardly revised 0.8% December increase) contributed to economic growth concerns. Meanwhile, February consumer confidence slid nearly 7%, its largest monthly decline since August 2021.