Global stock markets are experiencing significant declines, primarily driven by a sharp sell-off in technology stocks. The Nasdaq has dropped over 3%, led by notable declines in major companies such as Micron, Nvidia, and Alphabet. Concerns about high valuations in the AI sector and hawkish policies from the Federal Reserve have added to market unease. Analysts are questioning the sustainability of the recent AI boom as investors pull back from high-flying chip makers, indicating a broader reckoning with tech stock valuations. Amid fears of a continued downturn, futures trading reveals pressure across major indices, with the S&P 500 and Dow also reflecting the negative sentiment.