VGT is trading down 1.6% to $670.10 as technology stocks face pressure from escalating U.S.-Iran conflict and a proposed H-1B visa wage increase.
- Geopolitical risks, including potential Strait of Hormuz disruptions and oil prices surging above $107/barrel, are driving risk-off sentiment in growth-heavy tech sectors.
- The technology sector is significantly underperforming the broader market (Nasdaq -0.50%, S&P 500 -0.09%) due to sector-specific headwinds like higher labor costs for foreign tech workers.