US equity indexes slumped after midday on Tuesday amid a sharp sell-off in technology, led by semiconductors.

The Nasdaq Composite dropped 2.3% to 25,334.1, with the S&P 500 down 1.4% to 7,303.2, and the Dow Jones Industrial Average lower by 0.7% to 50,442.3 in Tuesday's midday trading.

Technology and energy were standout decliners, down 3.4% and 2.3%, respectively. Marvell Technology (MRVL), Arm (ARM), and Qualcomm (QCOM) declined by at least 8.8% each, making them the worst-performing three stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.

The real estate and consumer staples sectors led the gainers.

West Texas Intermediate crude oil futures sank 4.6% to $87.13, and Brent crude futures dropped 4% to $90.52.

"Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."

Most US Treasury yields fell, with the 10-year down 2.2 basis points to 4.53% and the two-year dropping 3.4 basis points to 4.12%.