💻 Nvidia, Microsoft Drag Tech Lower as VGT Drops | Tech Sector Insights
The Vanguard Information Technology ETF (VGT) fell over 2% as declines in Nvidia, Microsoft, Apple, and Broadcom weighed on the sector. Rising oil prices and Middle East tensions added pressure, fueling inflation concerns and broader market weakness.
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Friday, March 20
VGT [-2.4%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) is currently down significantly, reflecting a daily return decline of 2.4%. This drop coincides with broader market volatility driven by ongoing geopolitical tensions in the Middle East, particularly related to Iranian drone attacks on oil infrastructure, which have disrupted global energy supplies and raised crude prices. The Nasdaq 100 Spot Index has also experienced a notable decline of approximately 1.67%, while the S&P 500 Index is down by 1.81%. Among VGT's holdings, Nvidia (NVDA) and Microsoft (MSFT) have contributed negatively, with returns dropping significantly. Other notable detractors include Super Micro Computer (SMCI), Broadcom (AVGO), and Apple (AAPL). These developments reflect heightened concerns regarding inflationary pressures and potential adjustments in monetary policy by central banks.