Global stocks slumped in a tech-fueled selloff on Tuesday, with investors unnerved by growing debt-funded AI spending, the prospect of a more hawkish U.S. rate outlook, and tightening financial conditions from a stronger dollar and higher U.S. bond yields.

As the world marks the passing of former Federal Reserve Chair Alan Greenspan, who died on Monday aged 100, it’s almost fitting that the U.S. central bank is entering a period of “less is more” when it comes to communications — something the “maestro” himself would have approved of.

SpaceX’s stock extended its wild ride on Tuesday, briefly falling below its first-day opening price ​before rebounding on an otherwise weak day for the tech sector – sharpening Wall Street’s focus on the shifting balance between buyers and sellers of the volatile ‌shares.