IPO is trading at $48.14 (-4.47%), as technology-led selling weighs on its growth-oriented holdings amid questions over whether heavy AI infrastructure spending will pay off. - Tesla’s reduced capital-spending outlook and concerns over Meta’s AI costs have added pressure to the sector. - Rising oil prices and renewed Middle East tensions are adding risk aversion and inflation concerns. IPO’s technology-heavy composition makes the sector pullback a likely contributor to its sharper decline.