The US stock market recorded a sharp decline in trading on Wednesday, with Wall Street's major indexes declining due to pressure in the technology sector.
This situation occurred as investors were reviewing the latest earnings reports of major companies.
Meanwhile, Advanced Micro Devices (AMD) shares fell more than 8% after the company issued a weaker-than-expected first-quarter forecast.
Chipotle shares fell about 6% following a fourth consecutive quarter of poor performance.
On the other hand, Match Group shares jumped 7% on stronger earnings and revenue, thus beating market expectations.
In terms of the performance of the main indexes, the Dow Jones weakened 0.34% to 49,240.99 points, the S&P 500 fell 0.84% to 6,917.81 points, while the Nasdaq Composite plunged 1.43% to 336.92 points.
At the same time, the technology sector experienced massive selling pressure, especially involving artificial intelligence (AI) and semiconductor stocks.
Among the stocks affected were AI chip leader Nvidia which fell 2.8%, Microsoft (2.9%), Micron (4.2%), Broadcom (3.3%) and Oracle (3.4%).
Market focus now turns to the earnings report of Google parent company Alphabet on Wednesday, followed by Amazon on Thursday.
