💻 Market Volatility Hits Tech Stocks as Tariff Concerns and Weak AI Spending Weigh on VGT | Tech Sector Insights
Among its holdings, NVIDIA has seen a substantial decline due to a 29-week low, attributed to worries about AI spending and new U.S. export regulations. Microsoft is also facing challenges, hitting a 14-month low following a price target reduction by Jefferies.
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Monday, March 31
VGT [-1.9%]
Vanguard Information Technology ETF (VGT)
The U.S. stock market is currently experiencing notable volatility, with major indices such as the Nasdaq sharply declining amid concerns over President Trump's forthcoming reciprocal tariffs set for April 2nd. This uncertainty has adversely affected technology stocks, including those within the Vanguard Information Technology ETF (VGT), which has dropped significantly today. The ETF's daily return is reported at -2.13%. Among its holdings, NVIDIA has seen a substantial decline due to a 29-week low, attributed to worries about AI spending and new U.S. export regulations. Microsoft is also facing challenges, hitting a 14-month low following a price target reduction by Jefferies, as cloud customers cut back on AI expenditures. Other contributors to VGT's performance include Broadcom, Salesforce, and Micron Technology, all of which have experienced downward pressure in their stock prices. Meanwhile, the S&P 500 Index has declined by 0.38%, reflecting broader market sentiment that may influence VGT's recent performance.