Global markets slip as tech shares slide
Asian and European stock markets declined as tech hardware shares retreated and investors prepared for the US midterm elections. Meanwhile the Reserve Bank of Australia raised its cash rate target by 25 basis points.
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Asian tech hardware suppliers sank during Tuesday morning trade, sending regional shares down 1.4% as the AI trade buckled ahead of elections. S&P 500 e-mini futures edged 0.1% lower in overnight trading, marking four consecutive sessions of declines. Investors are offloading risk as voting begins in the United States midterm elections alongside escalating Middle East tensions.
