Tech Rout Drives Second Day of Global Stock Losses: Markets Wrap

A selloff in technology stocks dragged global markets lower for a second day as investors continued to pull back from the biggest beneficiaries of the artificial-intelligence boom.

Nasdaq 100 futures fell 0.2% after the index logged its steepest drop in nearly a month amid worries over lofty valuations. Tech stocks also led losses in Europe, while South Korea’s Kospi — a major AI play — slid more than 2% in Asia.

Treasuries advanced as investors sought safety, with the 10-year yield falling one basis point to 4.07%. Gold rose for the first time in four sessions. Outside the technology sector, ...