The U.S. Global Jets ETF (JETS) fell 3.73% in the pre-market session, caught in a wider market downturn as major indices saw significant losses. The broad sell-off was reportedly triggered by investor fears of increased regulation in the technology sector following the U.S. midterm elections. Adding to the pressure on airlines, oil prices rebounded after a recent fall, and major international carrier Emirates reported a significant drop in profits, citing high fuel costs. These factors renewed concerns about rising operating expenses for the airline industry.