IGV is trading 2.57% down today at $74.67 as hot CPI data and concerns over Fed rate cut delays weigh on growth-oriented tech stocks.
- The ETF has extended a multi-day selloff from its April 7 high of $80.50, despite a TSMC Q1 revenue beat of $35.7B driven by AI chip demand.
- While the NASDAQ is up 0.59% on Middle East truce optimism, a 3.3% YoY March CPI reading with energy price surges has investors wary of inflation.
- Broader market volatility continues to pressure the tech sector, offsetting positive revenue news and weighing on growth stocks.