US stocks turned sharply lower on Tuesday as renewed selling in artificial intelligence (AI)-linked shares overshadowed easing oil prices and dragged major Wall Street indices into the red.The S&P 500 fell 1.1%, reversing an early gain of 1%, while the Dow Jones Industrial Average dropped 283 points, or 0.6%. The Nasdaq Composite, which is heavily weighted towards technology stocks, slid 1.9%, AP reported.The latest decline was led by chipmakers and other companies tied to the AI boom, extending a volatile stretch for some of Wall Street's biggest winners.Micron Technology swung from an early gain of 4.2% to a decline of 4.9%. The stock had surged 9.9% on Monday after tumbling 13.3% on Friday. Despite the recent volatility, Micron shares have still tripled this year, fuelling debate over whether AI-related stocks have become overheated.The sell-off comes as investors assess whether the recent correction in AI stocks marks the beginning of a prolonged downturn or a temporary pullback after months of rapid gains.The weakness in technology shares outweighed support from falling oil prices.Brent crude fell 3.3% to $91.12 a barrel after briefly climbing above $98 on Monday. Oil markets have remained volatile as investors track developments surrounding efforts to reopen the Strait of Hormuz and restore oil exports from the Persian Gulf.Lower crude prices provided relief to airline stocks, which have been under pressure from rising fuel costs.Delta Air Lines gained 1.4%, while American Airlines rose 1.8%.The decline in oil prices also helped ease pressure in bond markets. The yield on the benchmark 10-year US Treasury note edged down to 4.55% from 4.56% on Monday, though it remains significantly above the 3.97% level seen before the Iran conflict began.Investors are now awaiting key US inflation readings, including consumer price data due Wednesday and wholesale inflation figures on Thursday.Markets continue to expect at least one Federal Reserve rate hike before the end of the year as inflation remains elevated and the labour market stays resilient.Higher borrowing costs are increasingly being viewed as a risk for sectors linked to AI investment, particularly data centre construction and related infrastructure spending.Among individual stocks, J.M. Smucker jumped 12.8% after reporting quarterly profits that exceeded analyst expectations, helped by higher prices for coffee and baked goods.United Natural Foods fell 12.2% after posting weaker-than-expected revenue.Biotech firm Nuvalent surged 39% after agreeing to be acquired by GSK for $10.6 billion. Shares of UK-based GSK gained 0.6% in New York trading.Elsewhere, European markets were mixed, while South Korea's Kospi jumped 8.2%, nearly recovering the previous session's 8.3% decline as technology stocks rebounded. Ready to Make a Smarter Property Decision? Build Your Legacy with TOI Homes.