VGT is trading down 2% today as the broader technology sector declines sharply due to profit-taking and concerns over stretched valuations following the recent AI-led rally.
- Semiconductor-related stocks are leading the pullback, with ongoing selling in artificial intelligence names weighing heavily on sector sentiment.
- Fresh scrutiny regarding NVIDIA’s export controls to Asia and China has added further downward pressure to the market.
- The Technology Select Sector SPDR (XLK) is also down approximately 2.3%, reflecting the widespread nature of the current selloff.