The broad market is trading lower, led by a significant sell-off in the technology sector following disappointing earnings and/or forward guidance from major companies. Intel (INTC) plunged over 25% after a weak Q4 outlook renewed concerns about the PC market. [12, 15] Similarly, Amazon (AMZN) dropped around 7% due to worries about its AI capital expenditures and weaker-than-expected guidance. [8, 15] This has created broader anxiety about the costs and profitability of AI infrastructure investments across the tech landscape, pulling down the heavily weighted sector and the wider S&P 500 index. [3, 10]
Tech Sector Woes Drag S&P 500 Down in Pre-Market