IGV is trading 1.95% down today as escalating Iran-Israel conflict and oil prices surpassing $100 per barrel spark risk-off sentiment in growth-heavy tech stocks.
- Geopolitical instability is compounded by energy supply shocks from Tropical Cyclone Narelle halting Australian LNG production.
- The broader market is under pressure, with the Nasdaq down 0.77% and Nasdaq futures falling 0.47% as threats to energy infrastructure fuel global selloffs.
- Rising energy costs and macro uncertainty are weighing heavily on the information technology sector and high-valuation growth assets.