🔴 VGT is trading 1.7% down today amid U.S.-Iran tensions and proposed H-1B wage hikes

VGT is trading 1.7% down today as escalating U.S.-Iran geopolitical tensions and a proposed H-1B wage hike weigh on the technology sector.

• Geopolitical uncertainty, including a 10-day pause on Iran energy strikes and concerns over the Strait of Hormuz, has triggered a risk-off sentiment, dragging the NASDAQ Composite down 1.39%.
• The sector is facing additional pressure from a new U.S. Department of Labor proposal to raise H-1B wages, which could significantly increase operational costs for tech firms reliant on foreign talent.
• Sentiment remains fragile following a 4.2% decline in NVIDIA during the previous session, contributing to the broader tech sell-off.