Tech Stocks Fall Globally as AI Doubts Hit Chips, SpaceX

Global technology stocks fell sharply Tuesday, extending a losing session on Wall Street. A broad chip-sector selloff deepened doubts about near-term returns on AI investment. Nasdaq and S&P 500 futures declined in early trading, with chip makers among the hardest-hit names across Asian and European markets.

SpaceX shares fell more than 16%, erasing roughly $400 billion in market value from the company's debut-week highs, as rising US bond yields weighed on high-multiple growth stocks. Samsung and SK Hynix also retreated in Seoul trading. Investors are growing skeptical that AI infrastructure spending will produce near-term earnings growth sufficient to justify current valuations.