QQQM is trading at $276.45, down 2.97%, as concerns that tighter oversight could slow data-center construction weigh on AI infrastructure and semiconductor shares. - Qualcomm fell after its smartphone-chip sales outlook missed estimates; Nvidia, Marvell, and Intel also declined in premarket trading. - Nasdaq futures underperformed S&P 500 futures, consistent with pressure on technology and chip stocks rather than a uniform market selloff.