NEW YORK — Technology stocks fell sharply across Asia, Europe and the United States on Monday after some of the artificial intelligence industry's most prominent executives called for a slower pace of development, rattling investors who have poured billions of dollars into the sector on bets that rapid AI progress would keep driving corporate profits and stock valuations higher.

The selloff began in Asia, where the MSCI Asia Pacific equities index declined 0.5%, with losses concentrated in Japan and South Korea. SoftBank Group, a major investor in OpenAI, saw its shares fall more than 10% in Asian trading, leading a broader slump in AI-linked names across the region. Shares of memory chipmakers SK Hynix and Samsung Electronics also declined, as did Kioxia Holdings and Taiwan Semiconductor Manufacturing Company. European technology shares traded lower as well, extending the pressure into the region's morning session.

The weakness carried into U.S. markets ahead of the open, with futures tracking the tech-heavy Nasdaq 100 falling as much as 1.8%, while contracts on the S&P 500 declined roughly 0.7% and Dow futures slipped modestly. Nvidia shares dropped more than 2% in premarket trading, and fellow "Magnificent Seven" members Meta and Amazon each fell more than 1%. Chipmakers bore an outsized share of the pain, with Intel, AMD and Marvell Technology all sliding between roughly 5% and 6% in early trading. Not every corner of the technology sector moved lower, however: shares of software companies including ServiceNow, Adobe and Workday rose, as some investors weighed the possibility that a slower pace of AI........

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