VGT is trading 1.5% down today as the broader technology sector faces headwinds from escalating geopolitical tensions in the Strait of Hormuz and mixed corporate earnings.
- The Nasdaq Composite dropped 0.58% as oil prices surged above $105 per barrel following Iranian seizures of container ships, pressuring energy-sensitive tech stocks.
- ServiceNow plunged 14% after citing Middle East conflict delays impacting contracts, while Tesla raised 2026 capex guidance to $25 billion, signaling elevated spending concerns.
- These sector-wide pressures outweigh Intel's scheduled earnings announcement expected after the market close.