Tech Selloff Steepens

Speaker 10:00

The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand. But by embedding AI across HR, IT, and procurement processes, we've reduced costs by millions, slashed repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business. IBM.

Luke Vargas· Host0:29

[upbeat music] Here is your morning brief for Tuesday, June twenty-third. I'm Luke Vargas for The Wall Street Journal. The tech sell-off is accelerating as investor fears over AI expenses and a continued downturn in SpaceX shares since its IPO hurts the wider industry. Asian markets ended the day lower, with South Korea's Kospi diving ten percent, weighed down by chip makers such as Samsung Electronics. European stocks are also selling off, and US stock futures are sliding, too. In Europe, Tesla has logged a more than twofold jump in monthly sales last month as Elon Musk's electric car maker rebuilds strength despite Chinese rivals' foothold. New car registrations across the region doubled, marking the fourth consecutive month of growth for Tesla there. The rebound comes as the company is seeking approval for its full self-driving technology in the EU. And Defense Secretary Pete Hegseth is