An anonymous reader quotes a report from The Guardian:

> A tech sell-off [1]shook global markets on Tuesday as attention turned away from developments in the US war with Iran and toward the future of AI companies and chipmakers that have driven stock markets to record highs. The tech-heavy [2]Nasdaq index closed 2.2% lower on Tuesday. The [3]S&P 500 was also down by Tuesday afternoon, dropping 1.43% while the Dow remained steady. All three major US indices have hit record highs this year, riding off a rush of funding to support AI technology and infrastructure. Nasdaq is up 10% for the year, while the Dow jumped 6% so far this year, breaching past 51,000 points, and the S&P 500 is up 7.3%.

>

> But some economists have warned that the influx of AI spending is a bubble reminiscent of the dot-com bubble that burst in the early 2000s. Seven tech companies make up 30% of the S&P 500's value. The heavy reliance on a single industry and a few key companies has some investors wondering if it's a matter of when, not if, there will be a burst. Those concerns have been heightened by signals from the Federal Reserve last week that it may increase interest rates, and therefore the cost of borrowing, in order to tackle rising inflation.

Alphabet fell 5% on Monday. SpaceX plunged 16%. The selloff also spread to Asia, with South Korea's benchmark dropping 10% as SK Hynix and Samsung Electronics each lost more than 12%, while Japan's Nikkei 225 declined 3.5%.



[1] https://www.theguardian.com/business/2026/jun/23/ai-stocks-sell-off-us-markets

[2] https://www.nasdaq.com/market-activity

[3] https://finance.yahoo.com/quote/%5EGSPC/