🔴 Nasdaq-100 ETF (QQQ) is trading 1.9% down in pre-market as AI spending raises questions about returns

QQQ is trading at $699.72, down 1.89% in pre-market as concerns about returns on heavy AI spending weigh on tech. - Amazon missed Q3 estimates; its heavy AI investment and negative free cash flow heightened return concerns. - Intel shares plunged after its fourth-quarter revenue outlook missed expectations, adding pressure to Nasdaq-100 futures, which fell about 2.2%. - The move extends a tech selloff after Alphabet’s October 29 decline; investors question whether massive AI spending will deliver returns quickly enough. U.S. futures and global tech markets were also weaker.