FTEC is trading at $280.33, down 3.95% in pre-market as investors worry massive AI investment may not generate returns sufficient to justify its costs.
- Overnight weakness in Asian chipmakers and falling U.S. equity futures added pressure to technology shares.
- Mixed megacap earnings added uncertainty: Meta raised its AI-spending outlook, while Tesla shares fell after cutting its 2026 capital-spending forecast.
- Rising oil amid Gulf tensions also dampened broader risk sentiment.