🔴 Industrials ETF (WARP) is trading 1.8% down in after-hours trading as communication-services weakness weighs

WARP is trading at $18.50 (-1.81%) after hours, with communication-services weakness a plausible contributor given its 44.2% sector exposure.

• Communication services fell 6.6% on October 29, pressured by Alphabet’s earnings miss, slower search growth, and heavy AI spending concerns.
• Alphabet reported negative free cash flow, intensifying concerns about AI investment returns; weaker U.S. equities added broader risk-off pressure.
• After-hours earnings volatility added uncertainty, but the information does not establish a specific WARP after-hours catalyst.