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(VGT) is currently down by 0.9%, reflecting a significant downturn in U.S. stocks, particularly following Walmart's disappointing earnings guidance. This has raised concerns over consumer spending cuts that may impact defensive sectors, including technology.
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Thursday, February 20
VGT [-0.9%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) is currently down by 0.9%, reflecting a significant downturn in U.S. stocks, particularly following Walmart's disappointing earnings guidance. This has raised concerns over consumer spending cuts that may impact defensive sectors, including technology. Additionally, the reported increase in crude oil inventories today may contribute to ongoing market volatility. Among VGT's holdings, notable declines were observed in several key contributors: AVGO dropped, ORCL fell sharply, and INTC also experienced a significant decrease. Palantir Technologies (PLTR) faced downward pressure due to potential U.S. Defense budget cuts, with its shares trading near $102.50. The S&P 500 Index mirrored this trend, declining by 0.63%, which may further influence VGT's performance amidst the broader market sentiment.