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(VGT) has experienced a decline of nearly 0.9% today, aligning with broader market trends as major indices, including the Dow Jones and NASDAQ, fell significantly due to concerns over economic conditions. Notably, several holdings within VGT contributed to this downturn.
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Thursday, March 6
VGT [-0.9%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has experienced a decline of nearly 0.9% today, aligning with broader market trends as major indices, including the Dow Jones and NASDAQ, fell significantly due to concerns over economic conditions. The latest employment data revealed only 77,000 new jobs added in February, falling short of expectations. Notably, several holdings within VGT contributed to this downturn, with Oracle and Snowflake both reporting substantial losses. Additionally, Arista Networks' SVP sold a significant number of shares, further influencing market sentiment. In macroeconomic news, U.S. wholesale inventories increased more than anticipated, but this was overshadowed by the overall negative market movement. The S&P 500 Index also reported a decline, reinforcing the correlation between VGT's performance and broader market dynamics. Notably, VGT is trading with an unusually high volume today.