This pullback might be a little different/deeper than the ones we've seen since last April. The Mag 7 has been underperforming since October and never made a new high along with the S&P.
I thought for a little bit that we were actually getting some rotation within the Mag 7 (i.e., look at AAPL vs. NVDA over that same time period), but now AAPL has rolled over fairly hard over since early December. Yields have also spiked today; that'll get the market's attention.