#tech-sell-off

#tech-sell-off

A busy day for European markets, with the Bank of England and European Central Bank rate decisions set to provide further catalysts into an already volatile and unpredictable market that has seen sharp tech and precious metal declines over the past week. In Europe, the selling pressure seen for many of the US tech names has highlighted the benefits of the European indices which are often less tech-focused and more aligned with the real economy.

Global markets have fallen after a tech sell-off that fuelled Wall Street's worst day in a month and weak economic data in China showing an unprecedented slump in investment. Japan's tech-heavy Nikkei fell 1.8% on Friday, South Korea's Kospi plunged 2.6% and there was a 1.5% fall in Australia, after a torrid day on Wall Street as Nvidia and other tech companies tumbled over valuation concerns.