US tech stocks sold off on Tuesday as worries mounted over high valuations for artificial intelligence companies and investors braced themselves for earnings later this week from industry titan Nvidia.
The tech-heavy Nasdaq Composite closed down 1.2 per cent after a day of choppy trading, while the broader S&P 500 slipped 0.8 per cent.
Companies at the centre of this year’s AI boom were among the biggest fallers on Wall Street. Chipmaker Nvidia dropped 2.8 per cent, while Microsoft fell 2.7 per cent and Amazon declined 4.4 per cent.
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