Nasdaq futures fell in early trading on Tuesday, declining 293.5 points, or 1.04 percent, as Wall Street opened mixed. The downward movement mirrored a cautious global market sentiment driven by mounting worries over artificial intelligence stocks and chipmakers.
The pressure on technology shares followed a severe sell-off in South Korea, where the Kospi index plunged nearly 11 percent on Tuesday amid heavy selling of computer chipmaking stocks. Investors globally are increasingly concerned that the ongoing artificial intelligence boom may be a bubble, fueled by apprehensions regarding hefty corporate spending and rising Chinese competition.
The market volatility comes ahead of pivotal corporate earnings reports from some of the largest technology companies. As these high-stakes financial results approach, the continued sell-off in chipmakers has left Wall Street trading mixed.
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