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(VGT) has declined by amid broader market concerns, with the S&P 500 down by 0.43%. Major global equity indices, including the NASDAQ, have experienced significant drops, influenced by weaker-than-expected PMI figures from Europe and disappointing U.S. existing home sales data.
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Friday, February 21
VGT [-0.9%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has declined by amid broader market concerns, with the S&P 500 down by 0.43%. Major global equity indices, including the NASDAQ, have experienced significant drops, influenced by weaker-than-expected PMI figures from Europe and disappointing U.S. existing home sales data. The Chicago Fed National Activity Index's recent release has further heightened market volatility, as VGT historically reacts strongly to such indicators. Among VGT's holdings, Microsoft, Nvidia, Accenture, Broadcom, and Salesforce all posted negative returns, with Accenture experiencing a notable decline. Additionally, Broadcom is reportedly considering acquiring Intel's x86 products business, which analysts believe could enhance its earnings significantly. This acquisition is estimated to cost around $101 billion, with an anticipated manageable Debt/EBITDA ratio post-acquisition.