US equity markets opened lower on Wednesday as investors continued to trim positions in high-flying semiconductor and artificial intelligence stocks following a historic run of gains.
The broad-based weakness marks a continuation of the selling pressure that has gripped Wall Street over the past two sessions.
2% as heavy selling in major tech names weighed on the index.
The Nasdaq Composite fell sharply on Tuesday, dropping 2.2% as heavy selling in major tech names weighed on the index.
Monday’s session also saw the tech-heavy benchmark decline 1.32% to close at 26,166.60, signaling that the pullback is gaining momentum rather than stabilizing.
The current downturn reflects a shift in sentiment after months of relentless buying in the sector.
With valuations stretched, traders are increasingly cautious, leading to a rotation out of growth stocks and into safer assets.