U.S. Tech Drop Resumes as Apple Falls; Oil Rises: Markets Wrap
- Samsung, ASML, Tencent drag sector lower after U.S. losses
- Investors looking to central bank policy meetings this week
Why Tech Stocks Are Taking a Tumble
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U.S. technology shares fell a second day after spreading to Asia and Europe on concern the group had risen too far too quickly. The pound retreated as an embattled Theresa May fought to survive the fallout from the British general election.
The Nasdaq 100 Index capped its biggest two-day decline since September after closing Thursday with a 21 percent gain for the year. Samsung Electronics Co., ASML Holding NV and Tencent Holdings Ltd. led declines in Europe and Asia. Energy shares advanced, mitigating losses in the S&P 500 Index, as crude topped $46 a barrel. Treasuries and the dollar were little changed two days before the Federal Reserve’s policy decision.0