MTUM is trading at $293.12, down 2.10%, as AI-expansion cost and pace concerns pressure technology shares.

  • Tesla’s reduced capital-spending forecast and Meta’s larger AI investment plans renewed concerns; IBM also fell despite beating earnings expectations.
  • Rising oil prices amid renewed Middle East tensions are weighing on risk sentiment and adding broad pressure to equities. Information technology makes up 54.4% of MTUM, a major headwind.
  • The selloff follows technology-led gains on October 21, making today’s reversal especially pronounced.