Nasdaq drops amid AI stock sell-off

The Nasdaq Composite index declined amid selling pressures on AI company stocks after a rise in the markets on Monday. Notably, shares of major tech companies such as Micron Technology, Intel, and SanDisk fell by about 2%. Investor sentiment was further tested following a more than 30% plunge in the Korean AI company Elisa during its first trading session. Additionally, concerns grew regarding the sustainability of the AI investment wave and excessive borrowing to fund company expansions, amid market declines in Asia.

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