See Herbert Enderton, Elements of Set Theory (1977), page 24 :
Suppose we want to take the intersection of infinitely many sets $b_0, b_1, \ldots$. Then where $A = \{ b_0, b_1,\ldots \}$ the desired intersection can be informally characterized as $\cap A = \cap_i b_i = \{ x | x$ belongs to every $b_i \in A \}$.
In general, we define for every non empty set $A$, the intersection $\cap A$ of $A$
by the condition
$x \in \cap A \Leftrightarrow x$ belongs to every member of $A$.
What happens if $A = \emptyset$ ? For any $x$ at all, it is vacuously true that $x$ belongs to every member of $\emptyset$. (There can be no member of $\emptyset$
to which $x$ fails to belong.) Thus it looks as if $\cap \emptyset$ should be the class $V$
of all sets. By Theorem 2A [page 22 : There is no set to which every set belongs], there is no set $C$ such that for all $x$,
$x \in C \Leftrightarrow x$ belongs to every member of $\emptyset$
since the right side is true of every $x$. This presents a mild notational problem: How do we define $\cap \emptyset$ ? The situation is analogous to division by zero in arithmetic. How does one define $a/0$ ? One option is to leave $\cap \emptyset$ undefined, since there is no very satisfactory way of defining it. This option works perfectly well, but some logicians dislike it. It leaves $\cap \emptyset$ as an untidy loose end, which they may later trip over. The other option is to select some arbitrary scapegoat (the set $\emptyset$ is always used for this) and define $\cap \emptyset$ to equal that object.
Either way, whenever one forms $\cap A$ one must beware the possibility that perhaps $A = 0$. Since it makes no difference which of the two options one follows, we will not bother to make a choice between them at all.