The tech-heavy Nasdaq Composite Index closed down 1.3 percent, the broad S&P 500 fell 0.7 percent and the Dow Jones Industrial Average fell 0.2 percent.
AI stocks such as Nvidia, Broadcom and Micron moved lower, falling 2.3, 3.2 and 7 percent, respectively.
Among the losers was also Swedish Klarna, which fell 22.8 percent after its interim report.
Swedish Einride, which develops self-driving electric trucks, plunged 7 percent after the company announced on Tuesday that it plans to expand its fleet in the United States with 500 Tesla trucks.
The crisis in the Middle East and the Strait of Hormuz does not look set to be resolved anytime soon. US President Donald Trump said on Tuesday that no talks with Iran are underway or planned.
The price of a barrel of North Sea oil has climbed to $91.
