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(VGT) has declined by 0.5% since Wednesday. This movement coincides with President Trump's announcement of a 25% tariff on imports from the European Union, Canada, and Mexico, effective March 4, raising concerns about trade tensions that may affect the technology sector.
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Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.
Thursday, February 27
VGT [-0.5%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has declined by 0.5% since Wednesday. This movement coincides with President Trump's announcement of a 25% tariff on imports from the European Union, Canada, and Mexico, effective March 4, raising concerns about trade tensions that may affect the technology sector. Additionally, initial jobless claims in the U.S. rose to their highest level since October, reaching 242,000, which could signal challenges in the labor market impacting economic growth. Among VGT's holdings, notable contributors to its performance included NVIDIA Corp, which faced stock pressure despite strong quarterly results, and Salesforce Inc., which reported a revenue miss that led to a decline in shares. The broader S&P 500 Index also fell by 0.24%, reflecting market sentiment that may be influencing VGT's performance.