Tech leads losses as Asian stocks track Wall Street selloff
- HONG KONG: Technology stocks were back in the crosshairs of investors on Wednesday (Aug 19), taking another heavy blow from a spike in bond yields, rising oil prices, persistent inflation and dimming hopes for a deal to reopen the Strait of Hormuz.
- The selloff tracked losses on Wall Street, where firms heavily invested in AI and chips were sharply lower, staunching a recent recovery in the sector in recent weeks following a crushing July.
- With the crisis in the Middle East showing few signs of ending - United States and Iranian officials have dug in and appear prepared for an extended standoff -
Unverified
- HONG KONG: Technology stocks were back in the crosshairs of investors on Wednesday (Aug 19), taking another heavy blow from a spike in bond yields, rising oil prices, persistent inflation and dimming hopes for a deal to reopen the Strait of Hormuz.
- The selloff tracked losses on Wall Street, where firms heavily invested in AI and chips were sharply lower, staunching a recent recovery in the sector in recent weeks following a crushing July.
- With the crisis in the Middle East showing few signs of ending - United States and Iranian officials have dug in and appear prepared for an extended standoff -
Sources: CNA