🔴 S&P 500 ETF (SPY) is trading 1% down as megacap results raise AI-trade doubts

SPY is trading at $765.48, -1.0%, as mixed megacap results raised doubts about the AI-trade rebound.

• Tesla fell 3.3% after cutting its 2026 capital-spending forecast; Meta’s higher AI-spending outlook underscored concerns about the cost of the technology buildout.
• Renewed Middle East tensions weighed on risk sentiment and lifted oil prices, adding pressure across global markets.