Big tech groups including Nvidia led a broad US stock market sell-off on Tuesday, as weak data on the state of the manufacturing sector added to investor concerns about an economic slowdown.
The S&P 500 dropped 2.1 per cent on the first trading session since the Labor Day holiday, marking its worst day since a bout of global volatility in early August.
Technology stocks, which have been a drag on the index in recent weeks, were once again the worst-performing sector. Chipmaker Nvidia dropped 9.5 per cent, shedding more than a $250bn in market capitalisation.
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