The selling kicked off overnight in Asia, with markets in Korea, Japan and Taiwan. Stateside, Dell Technologies tumbled 13% and Intel shares slid 7%.

Chip stocks crater globally as KOSPI drops 10%, Nvidia falls 5%, and ASML slides 8.5%, raising questions about AI spending sustainability and

The benchmark reached the correction threshold in just 38 trading days, versus more than 100 sessions during its previous decline.