KWEB is trading at $22.81, down 3.92%, as Chinese AI-linked stocks sold off amid concerns about valuations, earnings and whether heavy AI spending will pay off. - The CSI 300 fell as much as 1.7%, nearing bear-market territory. - U.S. futures fell after Meta raised its AI spending outlook and Tesla shares weakened, adding pressure to technology and risk sentiment. - Overnight China tech weakness is the clearest sector catalyst; broader market weakness may compound it.