Technology stocks tumbled, dragging major indices lower Tuesday, after a selloff in Korean chipmakers stoked concerns about the sustainability of the artificial-intelligence driven rally.
The S&P 500 declined 1.1%, with semiconductor makers Nvidia Corp and Micron Technology among the biggest drags on the index. The tech-heavy Nasdaq 100 dropped 2.5%, while the Dow Jones Industrial Average slipped 0.3%. The CBOE Volatility Index briefly shot up over 20.
