🔴 Tech ETF (XLK) is trading 2.19% down in pre-market as Lam outlook revives semiconductor-demand concerns

XLK is trading at $184.41, down -2.19% in pre-market, as Lam Research’s weaker-than-expected outlook revived concerns about semiconductor demand and AI spending.

• Lam Research fell 7.4% after-hours.
• Tesla declined after cutting its 2026 capital-spending forecast; Meta’s higher AI investment outlook added to scrutiny of technology-sector spending.
• Lower U.S. futures and renewed Middle East tensions added to the risk-off backdrop; the Nasdaq was indicated down 1.83%.