The Nasdaq Composite slipped more than 2% in early trade on Tuesday. The decline came as one global tech sell‑off accelerated on worries about persistent U.S. interest‑rate pressure and rising spending on artificial intelligence. Chipmakers fell hardest, pulling down major Big Tech names. The sell‑off spread across other sectors, but technology remained the weakest. Investors cited the Fed’s ongoing rate hikes and corporate AI budgets as the main triggers.
Analysts said the move signaled a rotation of capital rather than a full‑scale liquidation. The Dow Jones Industrial Average, by contrast, finished that session in positive territory.