🔴 Technology ETF (TQQQ) is trading 6.7% down in pre-market as Amazon and Intel results fuel AI spending concerns

TQQQ is trading at $64.72, down 6.70%, as weak guidance and results from Amazon and Intel intensified concerns about AI spending and returns.

• Nasdaq-100 futures fell sharply as the technology-sector selloff broadened.
• Pressure followed disappointing results from Alphabet and extended to Asian tech shares, which also fell.
• No major U.S. economic indicators are scheduled for October 30, so earnings-driven sector pressure appears to be the primary catalyst.