🔴 Tech ETF (XSD) is trading 3.3% down in pre-market after AI leaders urge slower development

XSD is trading at $488.95, down 3.29% from the September 11 close as technology stocks retreat amid AI safety concerns.

• Overnight selling intensified after Anthropic, OpenAI, and other technology leaders urged slower AI development over safety concerns, weighing on AI-linked semiconductors and growth stocks.
• The Nasdaq Composite declined 1.50%, while rising oil prices and weaker Asian markets added to broad risk aversion.
• No major U.S. economic release is scheduled.