Tech is selling off and the Iran peace deal is reshuffling the whole market

Chip stocks led losses from South Korea to Europe, while oil prices steadied after the U.S. waived sanctions on Iranian crude

Bloomberg / Getty Images

A global sell-off in technology stocks deepened on Tuesday, with Nasdaq $NDAQ 100 futures pointing to a 2.8% decline and S&P 500 futures sliding 1.4%, following a rout that swept through Asian and European markets after Monday's session.

The pullback hit chip stocks particularly hard. Among the region's biggest decliners, South Korea's Kospi dropped nearly 10%, with memory chip giants such as Samsung Electronics among the heaviest drags, according to The Wall Street Journal. Shares of SK Hynix, a key beneficiary of South Korea's AI-driven........

© Quartz