US tech stocks fall for a second straight session, led by semiconductor and AI-related losses amid thin Asian trading volumes.
The Nasdaq composite extended its decline for a full 24-hour period, dropping 1.4% in Asian trading after a 1.5% loss in the US session. Weakness in semiconductor, memory, and hyperscaler stocks drove the sell-off, exacerbated by reports of delays to Google’s latest Gemini AI model.
Thin liquidity due to a South Korean holiday and Japan’s market closure on Monday amplified volatility. The tech-heavy index has now erased gains from last week, reflecting broader concerns over AI demand and supply chain disruptions.
No immediate market reaction data was reported, but futures and cash markets remained under pressure throughout the session.