QQQ is trading at $689.15, down 3.90%, as investors reassess whether massive AI spending will generate sufficient returns after disappointing results and cash-flow concerns at Amazon and Alphabet.
- Amazon missed earnings and revenue expectations; Alphabet’s prior-day selloff added pressure to tech shares.
- Intel’s weaker-than-expected fourth-quarter outlook and warnings of continued PC-market weakness intensified the sector selloff.
- Declines are concentrated in technology, with the Nasdaq Composite falling more than broader-market benchmarks in early trading.