Nasdaq futures sharply lower as tech sell off bleeds into global markets; South Korea's Kospi falls 10%: Live updates

Elon Musk’s rocket maker SpaceX fell 16% and posted its third straight negative session.

The tech sell-off went on to grip international markets on Tuesday.

Asia-Pacific markets closed in the red after giving up gains from early in the session, with South Korea’s Kospi leading the region’s losses.

The benchmark index was down almost 10%, ending the trading day at 8,203.84, while Japan’s Nikkei 225 declined 3.55% to close the trading day at 69,788.38, breaking eight sessions of gains.

In Australia, the S&P/ASX 200 lost 0.33% to 8,787. Hong Kong’s Hang Seng Index fell 1.82% to close at 23,336.28, while mainland China’s CSI 300 was down 2.77% to 4,919.39.

European shares also fell sharply on Tuesday, with the pan-European Stoxx 600 down 1.2% in early trading.

The Stoxx 600 Technology index led regional losses, with a decline of 3.2%. Dutch semiconductor equipment maker ASMI and chipmaker STMicroelectronics, both down more than 6%, were among the biggest downward movers on the Stoxx 600.

“Anything AI- and tech-related is still an area of focus for retail traders. They’re just not as active in individual stocks as they have been in the past,” said Liz Ann Sonders, chief investment strategist at Charles Schwab, on CNBC’s “Closing Bell” on Monday afternoon. “Not a disinterest in the broader technology or AI space, it’s just the vehicles. I think it’s a little bit more of a focus on ETFs more broadly, as opposed to those individual stock trades.”

Sonders added that corporate earnings continue to serve as the most important underlying support for stocks at the moment.

Also on Monday, oil prices slipped after mediating parties Qatar and Pakistan made a joint statement detailing that the U.S. and Iran have made progress during talks in Switzerland toward reaching a final deal within 60 days. This includes an agreement to establish a committee and end military operations in Lebanon. The U.S. Treasury Department later authorized the sale of Iranian oil through August, causing oil prices to trade around their session lows.

Carnival and Korn Ferry will report earnings before Tuesday’s opening bell. Traders will also watch for June’s preliminary S&P Global PMI manufacturing and services readings.