🔴 S&P 500 ETF (IVV) is trading 1% down in pre-market as AI-spending doubts mount

IVV is trading at $768.82 (-1.01%) as mixed Tesla and Meta results renewed doubts about returns on heavy AI investment.

• Tesla cut its 2026 capital-spending forecast, while Meta raised its AI spending outlook.
• Higher oil prices amid escalating Middle East tensions added to risk aversion as U.S. equity futures fell broadly.
• Nasdaq Composite futures fell more sharply than S&P 500 futures.