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US AI stock sell-off shakes markets from Wall Street to Asia (www.theguardian.com)
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A tech sell-off shook global markets on Tuesday as attention turned away from developments in the US war with Iran and toward the future of AIcompanies and chipmakers that have driven stock markets to record highs.

The tech-heavy Nasdaq index opened 2% lower on Tuesday. The Dow and S&P 500 were also down at opening.

All three major US indices have hit record highs this year, riding off a rush of funding to support AI technology and infrastructure. Nasdaq is up 10% for the year, while the Dow jumped 6% so far this year, breaching past 51,000 points, and the S&P 500 is up 7.3%.

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US AI stock sell-off shakes markets from Wall Street to Asia (www.theguardian.com)
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All the vampires walkin' through the valley\

Move west down Ventura Blvd\

And all the bad boys are standing in the shadows\

All the good girls are home with broken hearts\

And I'm free, I'm free fallin'

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US AI stock sell-off shakes markets from Wall Street to Asia (www.theguardian.com)
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“SpaceX is not yet part of the Nasdaq indices, but the fact that it is jumping on the bond train to fund excessive AI and infrastructure spending revives earlier concerns that Big Tech may be spending too much on AI infrastructure and increasingly financing that spending through debt,” said Ipek Ozkardeskaya, senior analyst at Swissquote, noting that Morgan Stanley has estimated that AI-related borrowing will surpass $500bn this year

After the US stock market closed for the day on Monday, stocks in Asia appeared shaken by the drops around AI and tech companies. South Korea’s benchmark closed 10% down on Tuesday after the country’s largest chipmakers, SK Hynix and Samsung Electronics, both closed over 12% lower. Japan’s Nikkei 225 was down 3.5% at the close of trading.