SPY is trading at $763.82, down 1.18%, as AI investment concerns hit technology stocks.

  • October 22 earnings and outlooks revived concerns over AI costs and profitability timelines; Lam Research, Tesla, and Meta weighed on sentiment.
  • Renewed Middle East tensions and tanker-damage reports raised oil-supply concerns; Brent reached about $112 per barrel, adding inflationary pressure.
  • Together, tech weakness and geopolitical risk drove a broad risk-off move; supplied context shows SPY’s October 22 close at $763.96, down 1.18%.