FCOM is trading 3% down today as the communication services sector reacts to Meta’s earnings and aggressive AI capital expenditure plans.
- Meta’s projected $130–$145 billion AI spending for 2026 is weighing heavily on large-cap communications stocks, dragging sector ETFs lower despite broader indices trading higher.
- Elevated Treasury yields and geopolitical tensions in the Middle East are further fueling risk aversion in long-duration growth and AI-related names.