Tech Selloff Extends Into Asia

Tech Selloff Extends Into Asia

A technology-led selloff extended into global markets Tuesday, with concerns about rising interest rates, high valuations and regulatory risk weighing on highflying internet companies.

U.S. stock futures fell, suggesting American markets could come under fresh pressure on Tuesday after falling in the previous session. By early afternoon Hong Kong time, Nasdaq 100 futures stood 1.0% lower, while S&P 500 futures declined 0.5%.

Asian markets were following their U.S. peers lower as concerns built about quickening inflation, even as U.S. monetary policy was easy and tech shares had grown more expensive, said Grace Tam, chief investment adviser for BNP Paribas Wealth Management in Hong Kong.