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Japan’s Nikkei 225 drops nearly 3% following Wall Street losses

Shares in Asia-Pacific slipped in Tuesday morning trade following overnight losses on Wall Street, with the tech-heavy Nasdaq Composite falling more than 2%.

In Japan, the Nikkei 225 dropped nearly 3%, as shares of Fast Retailing fell 6.94%.

South Korea’s Kospi shed 2.38%.

Shares in Australia also slipped, with the S&P/ASX 200 down 0.89%.

The Reserve Bank of Australia is set to announce its interest rate decision at around 11:30 a.m. HK/SIN on Tuesday.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.73% lower.

Markets in mainland China remain closed on Tuesday for the holidays.

 

Dow falls 320 points to start the week, Nasdaq drops 2% amid tech rout

The major averages took steep losses to start the week as investors continued their rotation out of technology stocks amid rising bond yields.

The Dow Jones Industrial Average fell 323.54 points to 34,002.92, despite large gains in Merck.

The S&P 500 shed 1.3% to 4,300.46.

The technology-focused Nasdaq Composite was the relative underperformer, dipping 2.1% to 14,255.48.

 

European markets close lower; China Evergrande trading halt watched

European stocks closed lower on Monday as markets began the first full trading week of October.

The pan-European Stoxx 600 provisionally ended 0.4% lower, with tech stocks falling more than 2.1% to lead losses.

The market move comes after a tricky September, with concerns around inflation, Federal Reserve tapering and rising interest rates dominating sentiment. The 10-year U.S. Treasury yield topped 1.56% last week, its highest point since June.

Trading in the shares of Evergrande Property Services was also halted. At the same time, the shares of another Chinese property developer Hopson were also suspended.

 

Reference: CNBC