What will happen to index funds that track the S&P 500 if the big tech companies that make up most of the value suddenly tank?

What will happen to index funds that track the S&P 500 if the big tech companies that make up most of the value suddenly tank? Will we lose a bunch of money when the stock prices of the big tech companies drops, or would the index fund automatically sell those shares and buy up something else? Curious about how exactly that part of it works.
submitted by /u/ballandabiscuit

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