ASX to slip; Wall St tech stocks rebound as European COVID cases rise

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Australian shares are expected to fall in early trade, despite Wall Street's technology stocks rebounding from a recent pullback, while European markets remain calm as Europe enters its third wave of COVID-19 infections.

Australian shares are expected to fall in early trade, despite Wall Street's technology stocks rebounding from a recent pullback that was sparked by a surge in bond yields.The Australian dollar was steady at 77.47 US cents.

"No-one will be surprised by such a decision. The question is whether investors will remain calm amid the increasing uncertainty. Heavyweight tech companies were sold off last week. That was after a surge in bond yields, in recent weeks, caused investors to flee from stocks that might appear overvalued if central banks were to lift interest rates sooner than expected.

 

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