Tech Selloff Deepens on AI Spending Fears; Elice IPO Crashes 32%

Stocks traded lower Tuesday as technology stocks were hit again over AI-spending concerns. The selloff was partly triggered by Elice's disastrous trading debut, plunging 32%. Chip stocks resumed their decline after a one-day pause. CoreWeave fell 5.7%, IREN 7.3%. Salesforce agreed to buy Braze for $5.66B; Braze surged 51%. SpaceX dropped 3% ahead of earnings. Apple declined 0.5% after a downgrade. GM fell 5.2% on cautious Q4 outlook. GE Aerospace dropped 3.5% despite strong earnings. 3M rose 3.8% on Amazon deal. Equifax gained 9.1% on mortgage revenue growth. Halliburton rose 1.8% on Middle East revenue strength.