🔴 XLC is trading 1.54% down as SpaceX site-access plans pressure telecom shares

XLC is trading 1.54% down at $103.89, as reports of SpaceX seeking access to at least 80,000 U.S. cell sites add to telecom competition concerns.

• Communication-services shares also face investor worries about heavy AI spending by major tech companies.
• The weakness stands out against a stronger broad market; Verizon’s third-quarter revenue miss added pressure to the telecom group.
• Investors are watching major technology earnings and the Federal Reserve meeting later this week.