New York, June 23 -- The sell-off in global tech stocks intensified on Tuesday as investors became wary of the frenzy around AI, adopting a more cautious approach and evaluating the next steps on how to navigate the technology's soaring costs.

Nasdaq 100 extended the selloff opening more than 2 per cent lower on Tuesday, with memory chip heavyweight Micron down more than 11 per cent. The S&P 500 fell 1.6 per cent while the Dow Jones Industrial Average dropped around 0.7 per cent as investors weighed concerns around rising AI costs along with a hawkish US Fed.

The tech rout that started on Monday from Wall Street engulfed the Asian markets on Tuesday, with Korea's benchmark KOSPI sliding nearly 10 per cent and Japan's Nikkei down 3.5 per...