SINGAPORE | Global markets tumble ahead of US data; tech stocks fall
SINGAPORE — European markets sank in early trading Thursday ahead of U.S. inflation data that may lift bond yields and possibly push interest rates higher.
In Asia, losses on Wall Street overnight snowballed, triggering a slump in technology stocks. China’s benchmark hit a four-year low and Tokyo’s Nikkei 225 fell by an unusually wide margin of almost 4 percent.
“Equity markets were pulverized today,” with investors in “full out retreat,” Stephen Innes of OANDA said in a commentary.