Pull-back in US tech stocks spooks Asian markets
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
ASIAN stocks struggled on Friday, after US equities tumbled by the most in almost three months, as nervous investors took profit on tech stocks amid concerns over their lofty valuations.
In New York, the S&P 500 broke a 10-day winning streak and fell 3.5 per cent on Thursday.
The tech-heavy Nasdaq Composite collapsed by nearly 5.0 per cent and the Dow Jones Industrial Average, by 2.8 per cent.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
