🔴 S&P 500 ETF (IVV) is trading 1% down on October 22, 2026, as tech weakness deepens

IVV is trading at $768.68, down 1.03%, as investors questioned returns on heavy AI infrastructure spending after mixed megacap results.

• Tesla cut its capital-spending forecast, while Lam Research’s weaker outlook pressured chip-related stocks.
• Higher oil prices amid escalating Middle East hostilities added inflation and supply-risk concerns, weighing on broader risk sentiment.
• The Nasdaq’s larger decline points to technology weakness as a key contributor to the broader S&P 500 drop.