U.S. stock futures experienced a significant decline on Tuesday, reflecting a broader sell-off in global equities following a substantial downturn in the technology sector on Wall Street. S&P 500 futures were down 1.33% by 5:30 a.m., whereas Nasdaq 100 futures decreased by 2.42%. Futures associated with the Dow Jones Industrial Average were recently observed declining by 319 points, reflecting a decrease of 0.61%. Sandisk experienced a decline exceeding 9% in the premarket, positioning it as the primary contributor to losses within the Nasdaq-100. Chipmakers Micron and Marvell experienced declines exceeding 7%, while components manufacturer Seagate also recorded a decrease of approximately 7%. Intel experienced a decline of 6.7%, whereas both AMD and Qualcomm saw losses exceeding 5% each.

The State Street Technology Select Sector SPDR ETF dropped 3%. The VanEck Semiconductor ETF experienced a decline of approximately 5%. Meanwhile, SpaceX experienced a decline of 3%, positioning it for its fourth consecutive session of losses. Those losses contribute to the declines observed in the prior session, which pulled the S&P 500 and Nasdaq down as the week commenced. The tech sell-off continued to affect international markets on Tuesday. Asia-Pacific markets concluded the trading day in negative territory, relinquishing earlier gains, with South Korea’s Kospi at the forefront of the region’s declines. The benchmark index experienced a decline of nearly 10%, concluding the trading day at 8,203.84.

Meanwhile, Japan’s Nikkei 225 fell by 3.55%, finishing the trading day at 69,788.38, thereby interrupting a streak of eight consecutive sessions of gains. In Australia, the S&P/ASX 200 experienced a decline of 0.33%, settling at 8,787. Hong Kong’s Hang Seng Index experienced a decline of 1.82%, concluding at 23,336.28, whereas mainland China’s CSI 300 saw a decrease of 2.77%, finishing at 4,919.39. European shares experienced a significant decline on Tuesday, as the pan-European Stoxx 600 dropped by 1%. The Stoxx 600 Technology index experienced the most significant regional losses, registering a decline of 3%.

Dutch semiconductor equipment maker ASMI and chipmaker STMicroelectronics, both experiencing declines exceeding 6%, ranked among the most significant downward movers on the Stoxx 600. “Anything AI- and tech-related is still an area of focus for retail traders. They’re just not as active in individual stocks as they have been in the past,” said Liz Ann Sonders on Monday afternoon. “Not a disinterest in the broader technology or AI space, it’s just the vehicles. I think it’s a little bit more of a focus on ETFs more broadly, as opposed to those individual stock trades.” Sonders added that corporate earnings continue to serve as the most important underlying support for stocks at the moment.