Calls from top AI bosses to slow down cutting-edge model development sent tech stocks sharply lower, bad news for anyone holding chip and memory names.

• Anthropic's Dario Amodei urged the industry to slow frontier AI work and beef up safety checks, with Elon Musk and Sam Altman backing him.
• Memory makers took the worst hit, with Micron down about 7% and SanDisk down about 6%.
• Nvidia, Meta and TSMC's US-listed shares all fell, and the Philadelphia semiconductor index dropped hard.
• The Dow, S&P 500 and Nasdaq all slid, and Taiwan futures fell in overnight trading.

Outlook: Chip and memory stocks look shaky near term as investors question how fast AI spending will keep growing.