India, June 26 -- The New York Stock Exchange began trading on Friday on a cautious tone, as investors sold off tech shares to fuel declines in all three main U.S. indexes. The Nasdaq index lost more than 1% in early trading, while the S&P 500 and the Dow indexes declined after an erratic trading day yesterday while the recent sell-off was mainly led by chip makers, whose stocks pulled back sharply despite posting impressive quarterly results on the back of AI optimism.

The mood of the market changed after information emerged that OpenAI had decided to put off its long-awaited initial public offering (IPO), thus giving rise to concerns over the rate of investment in the artificial intelligence infrastructure. The other major concern of t...