Risk-off mood in Asia squeezes tech stocks

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

United States News News

Higher US treasury yields weigh on global tech firms and push the dollar to a five-year peak

An employee passes share price information displayed on an electronic ticker board inside the London Stock Exchange. File photo: BLOOMBERG via GETTY IMAGES/LUKE MACGREGOR

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.8%, while Japan’s Nikkei was little changed. US stock futures slipped, with S&P 500 e-minis down 0.25% and Nasdaq e-minis losing 0.4%. He said overnight declines in the Nasdaq due to the higher yields weighed on Asian share markets given the greater significance of tech stocks in the region.

US five-year notes, which reflect rate hike expectations, soared to their highest since February 2020, after US two-year note yields hit their strongest level since March 2020 on Monday. Benchmark US 10-year treasury yields touched a six-week high on Tuesday and were last at 1.657%. He thought declines in tech stocks would be short-lived, while rising yields would help banking stocks.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks power higher on US blast-offWall Street sets new records on the first trading day of 2022
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: Rand above R16/$, its worst level since mid-December, while JSE leaps to new recordGlobal risk aversion sees most emerging market currencies weaken, while stocks gain on waning concerns about Omicron Viva ANC ! Words can neither qualify how helpful your guidance and advice has been . I am forever grateful for your support .Thank you AMBREYMARCUS1 I just received a profit of R234,000 in my bank account. thank you very much
Source: BDliveSA - 🏆 12. / 63 Read more »