🔴 Large Growth ETF (IQQ) is trading 4.1% down as massive AI spending fuels return concerns

IQQ is trading at $23.27 (-4.09%) as technology shares sold off over concerns that massive AI investments may not generate adequate returns.

• On October 30, Amazon’s rising AI spending and negative free cash flow weighed on sentiment; Intel’s weaker outlook and PC-market weakness hit chip stocks.
• Alphabet’s earlier results had already fueled worries about cash burn and slowing core-business growth. Losses were concentrated in technology, making sector pressure the clearest driver of IQQ’s decline.