A sharp global sell-off in AI and tech stocks, bad news for investors riding the AI boom and anyone betting on richly valued names like SpaceX.

• AI fears triggered a worldwide sell-off, with Korea's market down 10% in a day and Samsung and Hynix down 12%.
• US tech got hit too — Nvidia, Tesla, Micron, AMD, and even Google and Apple all dropped.
• SpaceX, freshly public near a $2 trillion value, is falling as early buyers cash out, and two-thirds of that value rests on dreams like Mars and space data centers, not real business.
• SpaceX is also borrowing $25 billion in bonds at higher rates than similar companies, a sign investors want extra pay to fund Elon Musk's risky bets.
• Apple is raising iPhone prices over a memory shortage, but pricier phones could kill demand and eventually drag chip prices back down.

Outlook: If AI spending cools and high prices keep choking demand, expect more downside for overvalued tech and chip stocks.