🔴 Tech ETF (QTUM) is trading 2.4% down in pre-market as AI spending clouds near-term returns

QTUM is trading at $137.74, down 2.41%, as heavy AI spending and weaker-than-expected results intensified doubts about near-term returns.

• Alphabet fell 12.6%, Intel plunged 23%, and Amazon dropped about 7% after hours.
• Nasdaq 100 futures slid roughly 2%, consistent with QTUM’s tech-heavy exposure; Asian chip stocks also weakened. No major U.S. economic indicators were scheduled for October 30.