Shares in chipmakers and companies tied to the AI investment boom slipped on Tuesday as tech jitters returned ahead of the hotly anticipated SpaceX listing later this week.
The Nasdaq Composite declined 1 per cent in turbulent trading, recovering from losses of as much as 3.7 per cent.
Many of the richly valued tech stocks that have propelled the market to record highs this year fell sharply. Dell — which has added 161 per cent over the past three months — on Tuesday dropped 4.8 per cent. The Philadelphia Semiconductor index, which tracks 30 of the biggest US-listed chip groups, lost 1.9 per cent, though it remains up 75 per cent year-to-date.
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