Tech Stock Selloff Rages On After U.S. Attacks Iran

The market looked set to drop again on Wednesday as investors continued to ditch some of the artificial-intelligence stocks that up until last week had been powering a seemingly unstoppable rally. The S&P 500 and the Nasdaq both closed lower on Tuesday as investors took some profit following a strong run for tech. The U.S. launched military strikes on Iran on Tuesday in retaliation for the downing of a helicopter near the Strait of Hormuz, fueling fears about whether the cease-fire between the two countries can hold.