Asian Markets Slide as Tech Selloff and Oil Prices Weigh
· Business · LiveMint, CNBC
Asian equities fell sharply on Tuesday, led by a decline in technology shares following a semiconductor selloff on Wall Street. The MSCI index for Asia-Pacific shares outside Japan dropped 2%, while Japan's Nikkei index fell 2.6% after a holiday. Brent crude futures rose to $105.9 per barrel, driven by ongoing supply concerns in the Middle East and Russia-Ukraine. Investors are now focused on upcoming US bank earnings to assess the impact of rising Treasury yields on lending and dealmaking. The US dollar remained near an 18-month high as market participants sought safe-haven assets.
Why it matters
Rising energy costs and market volatility threaten to increase inflationary pressure and impact global investment sentiment, affecting Indian markets and fuel import costs.
Read the original report — LiveMint
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