💻 Microsoft, Apple Weigh on Tech as VGT Slips | Tech Sector Insights
The Vanguard Information Technology ETF (VGT) fell about 0.4% as weakness in Microsoft, Apple, Broadcom, Adobe, and Intuit dragged on the sector. Rising geopolitical tensions and stronger U.S. producer prices added pressure, weighing on tech alongside broader market declines.
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Wednesday, March 18
VGT [-0.4%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a decline of 0.4% today, coinciding with a downturn in the Nasdaq 100 Spot Index, which is influenced by rising geopolitical tensions following Iranian missile attacks on energy facilities. Concerns about potential oil supply disruptions and inflationary pressures in the U.S. have been exacerbated by an unexpected rise in U.S. producer prices ahead of the Federal Reserve's monetary policy announcement. Key holdings contributing to VGT's performance include Microsoft, Apple, Broadcom, Adobe, and Intuit, all of which reported negative returns. Additionally, the S&P 500 Index has dropped significantly, reflecting broader market sentiment that may also be impacting VGT's performance.