Global Stock Market Performance: VGSTX primarily invests in international stocks. Therefore, fluctuations in global stock markets, especially those in developed countries, significantly impact its price.

Currency Exchange Rates: Changes in currency exchange rates between the US dollar and the currencies of the countries where VGSTX invests affect the fund's value. A stronger US dollar reduces returns.

Economic Conditions: Economic health in developed economies influences company profits. Strong growth can boost stock prices, while recessions often cause declines.

Interest Rates: Changes in global interest rates can influence investor sentiment and stock valuations, affecting VGSTX. Higher rates may lead to lower valuations.

Political and Regulatory Changes: Political instability or regulatory changes in countries where VGSTX invests can create uncertainty and negatively impact stock prices.

Fund Management Strategy: The fund manager's investment decisions, stock selection, and asset allocation directly affect performance and price.