🔴 Tech ETF (XLK) is trading 2.9% down in pre-market on AI-investment return concerns

XLK is trading at $183.22, down 2.90%, as earnings-related cash-flow concerns and weak Big Tech results and spending outlooks intensified worries about AI investment returns.

• Alphabet’s earnings-related cash-flow concerns were followed by weak results and spending outlooks from Amazon and Intel. Their shares fell 12.6%, 7.3% and 23%, respectively, after hours.
• Nasdaq 100 futures slid roughly 2.2%, adding to tech-sector pressure. The selloff reflects earnings and AI-spending concerns rather than a scheduled U.S. data release.