💻 Tech Stocks Slide as VGT Falls Amid U.S. Shutdown and China Export Fears | Tech Sector Insights
(VGT) has experienced a decline of approximately 1.6% during market hours on Wednesday. This drop coincides with the ongoing U.S. government shutdown, now in its fourth week, which is creating uncertainty in financial markets.
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Wednesday, October 22
VGT [-1.6%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has experienced a decline of approximately 1.6% during market hours on Wednesday. This drop coincides with the ongoing U.S. government shutdown, now in its fourth week, which is creating uncertainty in financial markets. Additionally, President Trump's potential new trade restrictions on software exports to China are raising concerns about further tensions impacting the tech sector. Among VGT's holdings, notable declines include Apple, NVIDIA, Texas Instruments, AMD, and Applied Materials, with Texas Instruments reporting mixed Q3 results that missed earnings expectations while exceeding revenue estimates. However, disappointing Q4 guidance led to a significant share price decline. Meanwhile, the S&P 500 Index has also dropped, reflecting broader market sentiment that may be influencing VGT's performance.