European Shares Seen Lower After Tech Rout On Wall Street
(RTTNews) - European stocks look set to open on a sluggish note on Friday after a Wall Street rout wiped out roughly $2.5 billion in market value and sent the Nasdaq into correction territory overnight.
European stocks are expected to open sluggishly on Friday following a significant sell-off on Wall Street. According to Nasdaq Markets, the overnight rout wiped out approximately $2.5 billion in market value and pushed the Nasdaq into correction territory.
Hindu BusinessLine reports that a severe technology-led sell-off on Wall Street served as a global trigger, with the Nasdaq tumbling 5.52 per cent, the S&P 500 falling 4.36 per cent, and the Dow Jones Industrial Average losing 3.45 per cent. During the first 30 minutes of the US market opening, nearly ₹1.3 trillion in market capitalisation was erased.
Specific losses included SanDisk falling 15 per cent, AMD dropping 12 per cent, and Tesla shedding 10 per cent, while Nvidia, TSMC, and Broadcom also faced significant selling pressure.
The volatility also impacted Asian markets. Hindu BusinessLine noted that the Nifty 50 opened lower at 24,484.95, while the Sensex showed mixed early trade, rising marginally to 79,349.62.
Brief written by urgent.news from Nasdaq Markets, Hindu BusinessLine — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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