Tech selloff extends in Asia on inflation fears, anti-trust crackdown – Reuters

Tech selloff extends in Asia on inflation fears, anti-trust crackdown – Reuters

Asian tech stocks tumbled on Tuesday and European equity futures dropped after a selloff on Wall Street as investors braced for U.S. inflation data and China's ongoing anti-monopoly crackdown weighed on the country's tech majors.

In early European trades, the pan-region Euro Stoxx 50 futures were down 1.35% and London's FTSE futures dropped 1.26%. Those of German's DAX fell 1.24%. U.S. stock futures, the S&P 500 e-minis , were down 0.48%.

In Asia, a regional equity gauge suffered its biggest slide in nearly two months with MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) down 1.6% in afternoon trade, its largest drop since late March. Japan's Nikkei (.N225) slid 3.16%.