• Wall Street closed sharply lower Tuesday, with each of the major U.S. indexes suffering their fourth decline in five sessions, fueled by a selloff in the tech sector.
The Dow Jones Industrial Average .DJI fell 344.89 points, or 1.43 percent, to 23,857.71, the S&P 500 .SPX lost 45.93 points, or 1.73 percent, to2,612.62 and the Nasdaq Composite .IXIC dropped 211.74 points, or 2.93 percent, to 7,008.81.
• Tech stocks, among the best performing sectors of the bull market, have been under pressure recently as concerns about government regulation stemming from their strong growth and privacy questions surrounding Facebook (FB.O).
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• Asian stocks posted declines early on Wednesday trade after U.S. stocks fell sharply on the back of declines in technology names. That cut short a rally seen in Europe and Asia's Tuesday session linked to an apparent easing in trade-related tensions.
• The Nikkei 225 fell 2.15 percent in Tokyo, with the stock average reversing most of its gains made in the overnight session. The broader Topix was down 2.04 percent. All of its 33 subindexes were in negative territory, with securities sector stocks particularly downbeat.
• Over in Seoul, the benchmark Kospi slid 1.27 percent as technology stocks followed the lead from the overnight declines in U.S. tech. Samsung Electronics and SK hynix fell 2.88 percent and 1.23 percent, respectively.
Reference: Reuters, CNBC
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