VGT is trading 1.5% down today as hotter-than-expected April CPI data at 3.8% YoY dampens hopes for Federal Reserve rate cuts.
- The tech-heavy Nasdaq is under pressure from rising Treasury yields and oil price spikes fueled by escalating Middle East tensions.
- Supply chain concerns are mounting due to a Samsung labor standoff that risks $20 billion in AI chip output ahead of a scheduled May 21 strike.