💻 Adobe's Earnings Miss Guidance; Palantir Declines; Intel Soars | Tech Sector Insights
President Trump's announcement of new tariffs on steel and aluminum imports. This situation has contributed to the Vanguard Information Technology ETF (VGT) recording a daily return of approximately -1.4%.
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Thursday, March 13
VGT [-1.4%]
Vanguard Information Technology ETF (VGT)
The U.S. stock market is currently experiencing a downturn, with major indices such as the Nasdaq and S&P 500 declining amid ongoing trade tensions following President Trump's announcement of new tariffs on steel and aluminum imports. This situation has contributed to the Vanguard Information Technology ETF (VGT) recording a daily return of approximately -1.4%. Among the ETF's holdings, Adobe Systems has seen a significant drop in share price after reporting strong Q1 results but issuing lower Q2 revenue guidance, leading to analysts reducing price targets. Other notable contributors to the ETF's performance include Apple, Salesforce, Intuit, and ServiceNow, all of which have also faced declines. The S&P 500 Index's decrease of 0.34% further reflects broader market sentiment impacting technology sector performance.