Investors await major technology earnings and Federal Reserve decision. Global technology stocks extended their decline as investors reassessed the sustainability of artificial intelligence (AI) spending ahead of key U.S. technology earnings and the Federal Reserve's policy decision. South Korea's KOSPI fell 5%, SK Hynix dropped 9%, Japan's Nikkei 225 lost 1%, while Nvidia declined about 5% in U.S. trading as concerns over AI-related valuations spread across semiconductor stocks. Higher interest rates would increase financing costs for large AI infrastructure projects, while a more cautious policy stance could improve liquidity conditions and support growth-oriented technology stocks. While some market participants view the selloff as a healthy correction after an extended rally, others warn that elevated valuations leave semiconductor stocks vulnerable if corporate AI spending slows.