IGV is trading 2.1% down today, mirroring a 1.94% decline in the NASDAQ as geopolitical instability and sector-specific headwinds trigger a broad sell-off.
- President Trump’s warning of intensified strikes on Iran has kept the Strait of Hormuz closed, surging oil prices above $108/barrel and fueling risk-off sentiment across broader markets.
- Software stocks are facing additional pressure from decelerating growth and rising AI infrastructure costs as investors rotate capital toward hardware in the Great AI Reshuffle.