Abu dhabi: US stocks ended Tuesday's trading session by retreating further from the record highs set last Thursday, driven by a decline in artificial intelligence stocks. The S and P 500 index fell by 51.97 points, or 0.67%, to finish at 7,692.10 points. The Nasdaq Composite index dropped 350.45 points, or 1.31%, to settle at 26,294.46 points, while the Dow Jones Industrial Average lost 115.93 points, or 0.22%, to close at 53,343.85 points.

According to Emirates News Agency, the decline in major US stock indices was primarily driven by a selloff in technology shares, particularly those related to artificial intelligence. This sector has been under pressure recently, impacting the broader market performance. The significant drop in the Nasdaq, which is heavily weighted with technology stocks, underscores the influence of the tech sector's performance on the overall market.

Investors have been closely monitoring the technology sector due to its substantial growth over recent years. The recent downturn suggests a reevaluation of stock values in this area, particularly amidst concerns about market saturation and future growth potential. The performance of these indices reflects broader market sentiments and highlights the volatility that can arise from concentrated investments in specific sectors.