QQQ is trading at $703.82, down 1.55% from the September 11 close as Nasdaq-100 futures weaken, with investor concern that major AI companies are calling for slower frontier-model development, potentially reducing AI infrastructure spending and challenging elevated technology valuations.
- Higher oil prices, Treasury yields near 5%, and expectations for a Federal Reserve rate hike are adding pressure to growth stocks.
- Nasdaq-100 futures were reported down more than 1% overnight, with AI-linked semiconductors especially vulnerable.