Nasdaq 100 Drops 1.7% for Third Day as Yields, Oil and Mideast Tensions Rise
Updated
Updated · Bloomberg · Aug 18
Nasdaq 100 Drops 1.7% for Third Day as Yields, Oil and Mideast Tensions Rise
3 articles · Updated · Bloomberg · Aug 18
Summary
US tech stocks led another retreat Tuesday, with the Nasdaq 100 down 1.7%, the S&P 500 off 0.7% and a semiconductor index tumbling 5%.
Elevated bond yields, rising oil prices and renewed Middle East tensions drove investors to cut risk, extending both major indexes' losing streaks to three sessions.
Asian equities were set to follow Wall Street lower Wednesday, with futures for Japan, South Korea and Australia all pointing to declines at the open.
US stock futures were little changed, suggesting the selloff had not yet broadened into a sharper rebound or a fresh leg down.