A technology-led selloff hit U.S., Asian and European markets Tuesday as investors questioned whether artificial-intelligence spending can support valuations for chipmakers and other large technology companies. The Nasdaq Composite closed 2.2% lower, the S&P 500 fell about 1.4%, and the Dow Jones Industrial Average was little changed. Nvidia, Broadcom, Micron and other semiconductor shares led the declines. The selling began in Asia, where South Korea’s KOSPI dropped nearly 10% and triggered ...

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