🔴 Tech ETF (LYTE) is trading 6.71% down in pre-market as AI spending doubts pressure chip stocks

LYTE is trading at $18.98, down 6.71%, as investors question whether heavy AI infrastructure spending can deliver sufficient returns.

• Lam Research fell 7.4% in Asia after a weaker-than-expected forecast; South Korean chipmakers also sold off.
• U.S. futures are lower, with the Nasdaq contract down 1.75%; Middle East tensions and higher oil add to risk aversion.
• The decline reverses the prior session’s tech rebound.