Asian Markets Brace for Selling After Wall Street Tech Rout
Asian markets are poised for a decline following a sharp tech selloff on Wall Street and rising tensions in the Middle East. Investors are monitoring the upcoming SpaceX IPO and U.S. inflation data while oil prices climb after Israeli strikes on Beirut.
Asian markets are bracing for a sharp sell-off on Monday morning after a tech-led rout ended a nine-week winning streak in the United States. Futures indicate significant drops for equities in Japan and South Korea following a 4.2% Friday decline in the Nasdaq. Rising interest rate expectations and escalating Middle East tensions are driving capital toward the dollar and oil.
### Tech Rally Stalls on Rate Fears The AI-driven momentum that propelled markets for two months hit a wall after a strong jobs report fueled expectations for more Federal Reserve hikes. Selling hit semiconductor stocks particularly hard, while two-year Treasury yields rose 11 bps on Friday. Early Monday morning, S&P 500 futures fell 0.2% as the narrative of a continuous rally began to fray.
