VGT is trading 1.8% down as escalating geopolitical risks and surging oil prices weigh on the broader market.
- Brent crude climbed above $113/barrel following a deadline for Iran to reopen the Strait of Hormuz, sparking inflation concerns and potential Fed rate hikes.
- The tech sector mirrors a -1.59% drop in the NASDAQ, as sensitivity to higher yields and energy costs offsets positive chip sales data.