Stocks and yen struggle as tech troubles weigh

A passerby walks past an electric monitor displaying recent movements of various stock prices outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei Kato/File PhotoLONDON/SINGAPORE, April 25 - World stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram parenthammered tech, while the yen's drop through 155 per dollar for the first time since 1990 kept FX traders on intervention alert.

Chief Investment Officer at Close Brothers Asset Management, Robert Alster, added that Mark Zuckerberg's comments on Meta needing to spend to keep up in the AI arms race had been another major factor.Beyond corporate earnings, investor focus will be on the first quarter U.S. gross domestic product data due out later.

On Thursday, the yen was fetching 155.65 per dollar after touching 155.675, its weakest in 34 years, during the Asian session. It is also past the 155 yen level that some traders had marked as the latest

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