IGV is trading 1.6% down today as escalating U.S.-Iran tensions over the Strait of Hormuz closure drive a broader market selloff. President Trump’s 8:00 p.m. ET deadline for reopening the strait has fueled fears of strikes on Iranian infrastructure, pushing Brent crude above $113/barrel and raising inflation concerns that could prompt Fed rate hikes.
- The NASDAQ Composite is down 1.43%, amplifying pressure on the tech sector despite positive semiconductor sales data.
- Rising energy costs are weighing on growth valuations as geopolitical instability dominates market sentiment.