Mumbai, Nov. 7 -- The Nasdaq tumbled 445.80 points or 1.9 percent to 23,053.99, the S&P 500 slumped 75.97 points or 1.1 percent to 6,720.32 and the Dow slid 398.70 points or 0.8 percent to 46,912.30.

Advanced Micro Devices (AMD) plunged by 7.3 percent after a strong move to the upside over the course of the previous session. Major AI players Palantir Technologies (PLTR), Oracle (ORCL) and Nvidia (NVDA) also showed significant moves to the downside. Chipmaker Qualcomm (QCOM) also tumbled by 3.6 percent despite reporting better than expected fiscal fourth quarter results and providing upbeat guidance for the current quarter. Concerns about an AI bubble and the possibility of a near-term correction have recently weighed on investors' minds....