Shares of major tech companies have fallen in the US and Japan over fears about the valuations of firms linked to AI.

The AI-led rally has pushed the S&P 500's forward P/E above 23—its highest since 2000, according to FactSet.

Shares of major tech companies have fallen in the US and Japan over fears about the valuations of firms linked to AI.

Drop in US, Asia and Europe follows warning from bank bosses that market correction could lie ahead

Investors in Asia will look to trade data coming out of China later in the day.

The recent slide among AI stocks has once again put fears of a tech bubble at the forefront of investors' minds.