Stocks tumble as market leaders turn losers

SINGAPORE - Chip shares dragged Asian indexes lower on Wednesday and European futures fell after growth concerns drove the steepest selloff in a month on Wall Street and investors wiped $279 billion from the value of market darling chipmaker Nvidia (NASDAQ:

"The next few months will probably see the bottom of earnings and for investors, in the next few months is where you deploy into a lot of those opportunities.""Hong Kong is pretty weak, so whenever we see a negative signal like that from the U.S., Hong Kong will be performing even worse. "When you look at Nvidia as a market leader, it's not holding up despite very strong profits. There's an old saying - if the troops can't follow the generals it's a warning sign ... if the Nvidias and Apples and Microsofts cannot hold up the market, that's it we're in a bear market.""What I expect is that we’ll see a continued rotation away from technology stocks leading the way to broader leadership.

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