🔴 S&P 500 ETF (SPY) is trading 1.1% down as mixed results renew AI-spending doubts

SPY is trading $764.61 (-1.1%) as mixed megacap results renewed doubts about the AI trade.

• Tesla cut its 2026 capital-spending forecast, while Meta raised its AI spending outlook.
• Escalating Middle East tensions and attacks raised supply concerns, pushing Brent crude above $111 and adding risk-off pressure.
• Futures and Asian shares also fell as investors reassessed AI costs and geopolitical risk.