AI Worries Drag Global Markets; US Tech Plunges, Asian Stocks Decline

• Global markets are showing weakness, with Gift Nifty under pressure and Asian markets trading lower.
• US indices experienced sharp declines, driven by a sell-off in AI stocks, with Nasdaq falling nearly 1.7%.
• Concerns over AI stocks intensified after Oracle and Broadcom's results, leading to Broadcom dropping 11% due to margin pressure.
• Market attention is focused on AI stock valuations, rising US inflation, and the selection of the next Federal Reserve Chairman.
• A group of 19 US states has filed a lawsuit challenging a $100,000 fee for new H-1B visa applications.

Why It Matters: AI stock concerns and global economic factors are causing market instability.