VGT is trading at $113.50 (-1.71%) as pre-market weakness tracks a decline in Nasdaq 100 futures and broad tech selling.
- The overnight risk-off tone follows Apple’s 6.1% drop and sharp losses in Asian tech markets.
- Investors continue to rotate out of tech into industrials and defensive sectors, a trend that has accelerated since late June.
- Sector-wide valuation and AI-cost concerns are weighing on sentiment, overshadowing Micron’s strong earnings report.