🔴 Tech ETF (JEDI) is trading 3.42% down as AI spending concerns pressure tech shares

JEDI is trading at $20.06, down -3.42%, as technology shares face pressure amid concerns about AI spending.

• Reports of tanker damage in the Strait of Hormuz pushed oil higher and raised inflation worries, adding to risk-off trading.
• Those headwinds likely outweigh support from industrial defense stocks.
• Lockheed Martin reported stronger quarterly results and raised its outlook, but that is one company’s news.