Shares of technology companies ticked down amid fears about Chinese advances in artificial intelligence.
Shares of chip makers fell after reports that China's ChangXin Memory Technologies, or CXMT, was developing a new cell architecture named "4F square" for server memory.
Memory chip makers such as Micron Technology and SK Hynix fell sharply after SpaceX Chief Executive Elon Musk suggested China could have a similar impact on the memory chip market as it had on the solar-panel market.
Shares of Applied Materials tumbled after the chip-equipment maker's executives declined to provide a growth estimate for the wafer fabrication equipment market.
Bullish positions on semiconductor companies remains the "most crowded trade" on global markets, according to a survey of money managers by Bank of America Global Research. Institutional investors remain on edge about the possibility of a forced halt to AI-infrastructure capital spending, according to the BofA survey.
AirTrunk, a hyperscale data-center operator backed by Blackstone, has delayed plans for a Singapore listing because of market volatility and uncertainty over where U.S. interest rates are headed.
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