Asian Stocks Slip 0.1% as Tech Selloff Sends Nasdaq 100 Down Nearly 2%
Updated
Updated · Bloomberg · Jun 17
Asian Stocks Slip 0.1% as Tech Selloff Sends Nasdaq 100 Down Nearly 2%
3 articles · Updated · Bloomberg · Jun 17
Summary
MSCI’s Asia equity gauge fell 0.1% at the open after a three-day rally, with South Korea’s chip-heavy Kospi dropping 0.6% as the Wall Street selloff spilled into the region.
US stocks set the tone: the S&P 500 lost 0.6% and the Nasdaq 100 slid almost 2% as investors rotated out of technology and semiconductor shares ahead of the first Fed decision under Chairman Kevin Warsh.
SpaceX bucked that retreat, extending its post-IPO gain to nearly 50% and overtaking Amazon to become the world’s fifth-largest company by market value.
The moves underscore how positioning for the Fed is driving cross-market rotation, pressuring tech-heavy benchmarks in the US and Asia.