Global Markets: Sales of technology stocks continue


Sales to the stocks of the US technology companies are spreading to Asian and European markets, pulling stocks down from South Korea to the Netherlands. Samsung Electronics, ASML Holding and Tencent Holdings lost the most in European and Asian markets and index indices were down.

US index futures retreated as markets continued to squeeze the hard fall that Nasdaq 100 made on Friday. The pound was tense with the struggle that Theresa May had against the reflections of the British elections. The pound seems to ignore the potential benefits of the soft Brexit negotiations, which have developed due to political uncertainty continuing in the UK after the biggest fall of 8 months.

The sales wave in technology stocks came after the warning of the global chief investment officer of Goldman Sachs Group Inc., Robert Boroujerdi about the low volatility of Facebook Inc., Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc., which caused investors not to see risks such as seasonality and regulation. The main question now is whether the decline in technology stocks represents only a period in US bull markets or a more fundamental crack.

Washington continues to be the focus of the attentions. US Justice Minister Jeff Sessions was demanded to make a speech at the Senate Intelligence Committee to respond to the assertions of Russia’s intervention in the 2016 presidential election, after former FBI Director James Comey’s appointment in Congress.

In addition, investors will also monitor the decisions of central banks. Fed policy makers are expected to raise interest rates at this week’s meeting. Japan and the UK central banks will also make their policy debts this week.

The Stoxx Europe 600 Index fell 0.9 percent and ASML Holding was down 4.1 percent.

Standard & Poor’s 500 (S & P 500) index futures contracts decreased by 0.3 percent. The benchmark index fell 0.1 percent while the Nasdaq Composite Index, which tech companies are touting, fell 1.8 percent. While Apple dropped 3.9 percent, Microsoft, Amazon, Facebook and Alphabet all suffered losses of more than 2 percent.

The pound fell 1.6 percent against the dollar while Euro strengthened by 0.2% and came in at 1.1218. The Bloomberg Dollar Spot Index fell 0.1 percent following a 0.5 percent gain over the three sessions we passed.

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Global Markets: Sales of technology stocks continue

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