Global tech sell-off intensifies, led by AI and chip stocks

Markets tumbled around the world as renewed doubts about sky-high valuations took hold of investors in some of the largest AI, chip and memory stocks.

Markets tumbled around the world on Tuesday, as renewed doubts about sky-high valuations appeared to take hold of investors in some of the largest AI, chip and memory stocks.

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The deepening sell-off in technology stocks was led by artificial intelligence and chip stocks, starting overnight with two of Korea’s largest companies.

Market sentiment was also also hurt by Elon Musk’s SpaceX, which has slid for days after a blistering June 12 debut on the U.S. market. In earlier trading, shares fell as low at $147 before turning higher in volatile trading.