Shares of technology companies tumbled amid concerns about valuations in the sector.

Shares of Apple slid after analysts at brokerage Barclays cut their rating on the iPhone maker's shares, saying recent gains were unsustainable, given declines in quarterly sales.

The Netherlands blocked chip-equipment manufacturer ASML's exports to China of some lithography systems, which are essential to making advanced microprocessors, in a partial license revocation following U.S. export restrictions.

Chinese search giant Baidu has called off a $3.6 billion deal to buy JOYY's video-based entertainment live-streaming business in China.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-02-24 1726ET