💻 Tech Stocks Struggle Amid Tariff Fears: Apple, Nvidia Hit Hard | Tech Sector Insights
(VGT) has experienced a significant decline of 5.5% since Wednesday, influenced by President Trump's announcement of new tariffs, including a baseline tariff on all imports and steep rates for specific countries.
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Thursday, April 3
VGT [-5.5%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has experienced a significant decline of 5.5% since Wednesday, influenced by President Trump's announcement of new tariffs, including a baseline tariff on all imports and steep rates for specific countries. This news has triggered considerable volatility in the technology sector, with major indices like the Nasdaq reflecting sharp drops due to concerns over inflation and economic slowdown. Among VGT's holdings, notable declines were observed in companies such as ServiceNow, Dell Technologies, and Oracle, with Dell particularly affected by its exposure to tariffs. Additionally, mixed signals from the U.S. labor market, including a drop in initial jobless claims but a rise in continuing claims, have further contributed to market sensitivity. The iShares iBoxx $ High Yield Corporate Bond ETF has also declined, aligning with the downward movement of VGT amidst cautious investor sentiment.