NEW YORK — The Nasdaq Composite fell more than 2% on Tuesday, June 23, 2026, as technology stocks extended a global sell-off linked to investor concerns over artificial intelligence spending, semiconductor valuations and expectations for U.S. interest-rate policy, according to market data and Reuters reports. The decline followed losses across major technology markets in Asia and Europe.
The technology-heavy index was pressured by declines in large technology and semiconductor companies, with chip stocks among the hardest hit. Reuters reported that Nasdaq futures fell more than 2% during trading as investors assessed concerns about the cost of expanding artificial intelligence infrastructure and the impact of potentially higher borrowing costs.
The move followed a broader decline in global technology shares. Reuters reported that semiconductor stocks came under pressure as investors reviewed the outlook for AI-related investment and the possibility of a more restrictive monetary policy environment from the U.S. Federal Reserve. Asian markets were also affected, with South Korea’s Kospi index experiencing a sharp decline and triggering a market circuit breaker, according to reports from market sources.
Several major technology companies saw their shares fall during the session. Reuters reported that companies including Nvidia, Alphabet, Intel, Marvell Technology and Advanced Micro Devices were among those affected by the market decline, while semiconductor-related indexes also recorded losses. Details on the full extent of investor positioning and the causes of individual stock movements remained unclear.
Market participants were also monitoring developments involving artificial intelligence-related companies and their capital spending plans. Reuters reported that investors were increasingly focused on whether large-scale AI infrastructure investments could be supported by future returns while borrowing costs remained elevated.
The sell-off came after a period of strong performance for technology shares tied to artificial intelligence, though market officials and companies have continued to report investment activity in the sector. Analysts quoted by Reuters said investors were reviewing the pace of spending and valuations after significant gains in AI-linked stocks.
“We are seeing investors question the sustainability of some of the AI-related spending,” said David Wagner, head of equity and portfolio manager at Aptus Capital Advisors, in comments reported by Reuters.
U.S. markets continued trading with technology shares under pressure, while investors awaited further economic data and Federal Reserve-related developments. The latest market moves reflected continued volatility in global technology stocks, according to exchange data and market reports.
