Sharp losses on Wall Street expected to drag down European markets
The dollar sagged after weak US data further sapped confidence in the currency, while oil prices slipped despite expected Opec supply cuts
Tokyo — Asian stock markets skidded on Tuesday and Europe was expected to follow, pressured by sharp losses on Wall Street as technology firms tumbled on worries about slackening demand. The dollar sagged after weak US data further sapped confidence in the currency, while oil prices slipped despite expected Opec supply cuts. Spreadbetters expected European stocks to open lower, with Britain's FTSE falling 0.1%, Germany's DAX losing 0.5% and France's CAC dipping 0.3%. US S&P mini futures were down 0.3%. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 1.2%. Tech stocks were under pressure across Asia following US losses. In Seoul, Samsung Electronics fell 2% and SK Hynix dropped 3.5%, while Japan's Tokyo Electron was down 1.8%, Advantest lost 2.7% and Sony shed 3.1%. US stocks came under heavy selling on Monday, with Nasdaq tumbling 3%, as investors dumped Apple, internet and other technology shares. Conflicting signals between the US and China on their trade disput...
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