IUSG is trading at $188.08 (-1.51%) as Alphabet’s earnings miss and AI-related cash burn renewed concerns about returns on Big Tech’s heavy AI investments, pressuring technology shares.
- The Nasdaq Composite is down 1.68% as technology leads market declines; rising PCE inflation and strong GDP also complicate expectations for easier Fed policy.
- Microsoft’s strong cloud results offered some counterweight but did not offset sector-wide pressure.