Asian Stocks Brace for Decline as Tech Sell-Off Accelerates; Global Markets React

Business
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Moneycontrol•05-02-2026, 06:13
Asian Stocks Brace for Decline as Tech Sell-Off Accelerates; Global Markets React
- •Asian stocks are set to fall, mirroring US shares, due to an accelerated sell-off in technology stocks and investor rotation.
- •The Nasdaq 100 suffered its worst two-day rout since October, breaching a key technical level, signaling potential further losses.
- •Concerns over tech valuations, high spending, and AI's impact on business models are driving the tech-heavy sell-off.
- •The yen weakened against the dollar ahead of Japan's elections, while gold and silver advanced.
- •US service providers saw strong growth, and Presidents Trump and Xi discussed trade and geopolitical issues.
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