Why this earnings will already be bad no matter what

I saw someone asking why the Russell 2000 was hurting so badly if the pullback was mainly in technology. I’ve also seen some debate as to whether earnings will be bad, or whether just the outlook will be bad. Here’s why I think they’re going to be bad:

Tariffs took effect at the beginning of the month and were subsequently ratcheted up, businesses are already paying large sums extra for the same shipments they were getting last quarter… profits are going to take a huge shot. Here’s a good piece in WSJ with a few case studies so far. They rushed to beat some tariffs, but time is up and they’ve been paying big time.

Reiterating my positions: 6/30 SPY 560p, 555p (rolled down from 575, 570)