💻 Microsoft, Oracle Drag Tech Lower as VGT Slides | Tech Sector Insights
Tech stocks fall as renewed trade uncertainty and rising geopolitical tensions weigh on sentiment, pushing VGT down nearly 2%. Broad weakness across major software names, including Microsoft, IBM, Intuit, Salesforce, and Oracle, mirrors a broader decline in the S&P 500 as investors turn cautious.
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Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.
Monday, February 23
VGT [-1.8%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) is currently experiencing a decline of 1.8%. This drop coincides with the U.S. Supreme Court's recent decision to strike down most of President Trump's global tariffs, which has introduced renewed trade uncertainty and negatively impacted market sentiment. Additionally, heightened geopolitical tensions related to potential military operations against Iran are contributing to cautious investor behavior in the tech sector. Among VGT's holdings, notable declines include Microsoft, IBM, Intuit, Salesforce, and Oracle, all of which have posted significant losses today. The broader S&P 500 Index has also declined by 1.18%, reflecting a general downturn that may be influencing VGT's performance.