🔴 S&P 500 ETF (SPY) is trading 0.5% down as AI investment concerns weigh on technology shares

SPY is trading at $760.50 (-0.5%) as concerns about the cost and returns of AI investment weighed on technology shares.

• Meta’s spending outlook and Lam Research’s cautious forecast added pressure; Tesla’s reduced capital-spending forecast also weighed on shares.
• Rising oil prices amid escalating Middle East tensions heightened inflation and supply-risk concerns, reinforcing the risk-off mood.
• The supplied price indicates a premarket decline from the October 22 close, not a 3% drop.