🔴 Tech ETF (WQTM) is trading 2.10% down in pre-market as AI spending concerns pressure tech

WQTM is trading at $28.00, down 2.10%, as concerns over returns on heavy AI infrastructure spending weigh on tech.

• Nasdaq futures are down 1.75%; Meta’s higher spending outlook intensified AI-spending concerns.
• Tesla’s reduced capital-spending forecast and weakening Asian chip shares added pressure to the technology sector.
• Renewed Middle East tensions lifted oil and further dampened risk appetite.