IGV is trading 2.4% down in pre-market as escalating geopolitical tensions in the Strait of Hormuz and the resignation of the U.S. Navy Secretary drive broader market weakness.
- Iranian ship seizures have intensified regional risks, leading to warnings from IBM and ServiceNow regarding stalled enterprise tech deals.
- The sector is tracking a 0.35% decline in Nasdaq futures, overshadowing a 400% profit surge from SK Hynix driven by AI demand.