IYW is trading at $248.62, down 1.98%, in pre-market as renewed earnings concerns over heavy AI investment and near-term returns pressure tech stocks.
- Amazon fell 7.2% pre-market after cash outflows and elevated spending, while Intel dropped 25% on its outlook.
- Earlier earnings concerns around Alphabet and weaker semiconductor sentiment added pressure.
- Nasdaq futures fell more than 2%, signaling a tech-led decline rather than a uniform market selloff.