U.S. stocks extend selloff led by semiconductors' global decline, Moonshot AI’s Kimi-K3

U.S. stocks continued their downward trend on Tuesday, with the Nasdaq Composite experiencing a significant drop. The decline was largely driven by a global selloff in semiconductor stocks, exacerbated by concerns surrounding Moonshot AI's Kimi-K3 model. Investors are closely watching economic indicators and corporate earnings for signs of a potential market bottom.