QTUM is trading at $124.69, down 4.49%, as semiconductor weakness weighs on technology stocks. - Qualcomm’s weaker handset-chip sales and outlook, plus Arm guidance that disappointed investors, renewed concerns about chip demand and AI-investment returns; the Philadelphia Semiconductor Index fell 3.1% in premarket trading. - Investors fear Democratic control of Congress and key data-center states could bring tighter AI and data-center oversight, slowing infrastructure investment. Pressure is concentrated in chips and AI infrastructure; broader U.S. futures were mixed.