Technology stocks tumbled on Tuesday, dragged down by fears of the hefty bills for the build-out of artificial intelligence systems and concerns over intensifying competition from China in memory chips — a critical component of A.I. long dominated by South Korea and its peers.

周二，科技股大幅下挫，拖累因素包括市场担忧建设人工智能系统所需投入极其庞大，以及对来自中国在存储芯片领域竞争加剧的忧虑。存储芯片是人工智能的关键组件，长期以来由韩国等国主导。

South Korea’s benchmark Kospi index plunged more than 10 percent on Tuesday, at one point triggering a temporary trading halt. Benchmark indexes in Japan and Taiwan both fell around 4 percent. Stocks in China fell over 2 percent.

韩国基准股指Kospi周二暴跌逾10%，一度触发临时停牌。日本和台湾的基准指数均下跌约4%。中国股市跌幅超过2%。

Futures for the tech-heavy Nasdaq fell about 1 percent. The American chip company Micron was down 6 percent in premarket trading. Nvidia, the leading chip maker, was also lower, as was SpaceX, Elon Musk’s rocket and A.I. company. In Europe, the German chipmaker Infineon fell 4 percent and the Dutch semiconductor equipment maker ASML shed 3 percent.

以科技股为主的纳斯达克指数期货下跌约1%。美国芯片公司美光盘前跌6%，芯片龙头英伟达同样走低，埃隆·马斯克旗下的火箭和人工智能公司SpaceX也出现下跌。欧洲方面，德国芯片制造商英飞凌下跌4%，荷兰半导体设备制造商ASML跌3%。

The latest A.I.-related market tremor began on Monday, when the shares of China’s leading memory chipmaker, ChangXin Memory Technologies, began trading after a blockbuster initial public offering. The company’s stock soared nearly 500 percent on its market debut, quickly making it the most valuable company on the Shanghai exchange. It slipped 4 percent on Tuesday.

最新一轮与人工智能相关的市场震荡始于周一。当天，中国领先的存储芯片制造商长鑫科技在完成轰动性的首次公开募股后开始交易。该公司股价上市首日飙升近500%，迅速成为上海证券交易所市值最高的公司。周二股价回落4%。

The listing prompted widespread fears that intensifying industry competition could threaten rival global memory chipmakers in South Korea, Japan, Taiwan and the United States.

此次上市引发了广泛担忧，即行业竞争加剧可能威胁到韩国、日本、台湾及美国的全球存储芯片制造竞争对手。

The declines in Asia began as soon as stocks started trading on Tuesday, with A.I. and semiconductor stocks the hardest hit. Japanese flash memory maker Kioxia fell more than 18 percent. South Korean semiconductor company Samsung Electronics dropped about 13 percent.

周二亚洲股市开盘即跌，人工智能和半导体板块跌幅最大。日本闪存制造商铠侠下跌逾18%，韩国半导体公司三星电子下跌约13%。

Asian markets have been trending downward since late June, weighed down by recurring concerns over the sustainability of this year’s A.I. rally.

自6月底以来，亚洲股市整体一直处于下行趋势，市场持续担忧今年这轮人工智能行情是否具有可持续性。

The staggering scale of spending required to keep up in the global A.I. race was highlighted this week by OpenAI, the parent of ChatGPT, nearing a deal to lease a $500 billion data center in Ohio, supported by $250 billion in financial backing from Nvidia. Last week, earnings reports by Tesla and Alphabet, Google’s parent company, shook the markets as they revealed their own enormous A.I. spending needs.

本周，ChatGPT母公司OpenAI接近达成一项租用俄亥俄州价值5000亿美元数据中心的协议，并获英伟达2500亿美元资金支持，凸显了全球人工智能竞赛中保持领先所需的惊人支出规模。上周，特斯拉和谷歌母公司“字母表”的财报因披露其庞大的人工智能支出需求而引发市场震动。

On Monday, the Chinese start-up Moonshot publicly released the details of its latest A.I. model, adding to investor concerns about an A.I. arms race between China and the United States.

周一，中国初创公司月之暗面发布了其最新人工智能模型的技术细节，加剧了投资者对中美人工智能竞赛的担忧。

The latest market turmoil is an unwelcome turn for a region where the A.I. boom has served as a rare economic bright spot. In markets like South Korea and Taiwan, rising chip exports and soaring A.I. valuations have masked broader weakness across their domestic economies, which remain heavily dependent on energy imports from the Middle East.

对于亚洲而言，最新这轮市场动荡无疑来得不是时候。人工智能热潮一直是该地区少数的经济亮点之一。在韩国、台湾等市场，芯片出口增长和人工智能概念股估值飙升掩盖了经济整体依然疲弱的现实，而这些经济体仍高度依赖来自中东的能源进口。

The war in Iran, another major worry for investors, has rattled markets recently by restricting oil exports from the Persian Gulf and Red Sea, pushing up oil and gas prices. But President Trump said on Monday that there was “a good chance” that a new round of diplomatic talks could yield a breakthrough in the monthslong war.

伊朗战争是投资者的另一大隐忧，近期波斯湾和红海的石油出口受限推高了油气价格，从而扰动市场。但特朗普总统周一表示，这场持续数月的战争“很有可能”通过新一轮外交谈判取得突破。

A recent pause in fighting has helped ease oil prices, with Brent crude, the international benchmark, falling to around $84 a barrel on Tuesday. Still, the cost of crude is up more than 15 percent since the start of the war, feeding into higher prices for gasoline and a wide range of products derived from petroleum.

近期战事暂停有助于缓解油价，国际基准布伦特原油周二跌至每桶约84美元。不过，自战争爆发以来，原油价格已上涨逾15%，推高了汽油及多种石油衍生产品的价格。

And anxiety about the prospects for tech stocks will be tested again soon, with Microsoft and Meta scheduled to report earnings Wednesday, alongside South Korea semiconductor giant SK Hynix. On Thursday, Apple and Amazon report earnings, as does Samsung Electronics.

对科技股前景的担忧将很快再次面临检验——微软、Meta以及韩国半导体巨头SK海力士定于周三发布财报。周四，苹果、亚马逊和三星电子将公布业绩。