Technology stocks are experiencing a significant downturn, driven by investor concerns over artificial intelligence spending and increasing competition from China in the chip sector. This market movement has impacted global equities.
U.S. stock futures have slipped, while South Korea's Kospi index plunged more than 10 percent. This sharp decline in Korean markets was attributed to heavy selling of chipmaking stocks, leading to trading halts.
The sell-off has intensified among AI-related companies, as investors move away from chip stocks. This is a developing story and will be updated as details emerge.
