Tech selloff extends in Asia on inflation fears, anti-trust crackdown
By Julie Zhu and Tom Westbrook
Reuters
HONG KONG (Reuters) -Asian tech stocks tumbled on Tuesday and European equity futures dropped after a selloff on Wall Street as investors braced for U.S. inflation data and China s ongoing anti-monopoly crackdown weighed on the country s tech majors.
In early European trades, the pan-region Euro Stoxx 50 futures were down 1.35% and London s FTSE futures dropped 1.26%. Those of German s DAX fell 1.24%. U.S. stock futures, the S&P 500 e-minis, were down 0.48%.
In Asia, a regional equity gauge suffered its biggest slide in nearly two months with MSCI s broadest index of Asia-Pacific shares outside Japan down 1.6% in afternoon trade, its largest drop since late March. Japan s Nikkei slid 3.16%.
Tech selloff deepens on inflation fears, Fed outlook
yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Asia shares fall on worries over inflation, Fed outlook
Reuters
Hong Kong |
Updated on
May 11, 2021
×
Wall Street retreated, prompting investors to cut exposure to growth-focused stocks on bets of higher interest rates in the not-too-distant future. Asian shares declined in early trade on Tuesday as the Wall Street retreated on worries about accelerating inflation, prompting investors to cut back on their exposure to growth-focused stocks on bets of higher interestrates in the not-too-distant future.
A host of Federal Reserve speakers this week will likely give markets plenty to consider as policymakers assess how best to respond to receding risks posed by the coronavirus in some major economies.
Tuesday, 11 May 2021 12:20 PM MYT
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.7 per cent by mid-session, its largest drop since late March, and Japan’s Nikkei fell 2.8 per cent. Reuters pic
Subscribe to our Telegram channel for the latest updates on news you need to know.
HONG KONG, May 11 Asian tech stocks tumbled today and a regional equity gauge suffered its biggest slide in nearly two months after a selloff on Wall Street, as traders braced for US inflation data amid worries growing price pressures might bring forward rate rises.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.7 per cent by mid-session, its largest drop since late March, and Japan’s Nikkei fell 2.8 per cent.
Asia shares fall on worries over inflation, Fed outlook
By Julie Zhu
Reuters
HONG KONG (Reuters) - Asian shares declined in early trade on Tuesday as Wall Street retreated on worries about accelerating inflation, prompting investors to cut back on their exposure to growth-focused stocks on bets of higher interest rates in the not-too-distant future.
A host of Federal Reserve speakers this week will likely give markets plenty to consider as policymakers assess how best to respond to receding risks posed by the coronavirus in some major economies.
A test case on U.S. inflation will come this week when the Labor Department releases its latest consumer price index report on Wednesday.
vimarsana © 2020. All Rights Reserved.