The robot carnage on Wall Street predictably spilled over into Asian markets on Wednesday.
But hey, at least it’s Friday, right?
Whether or not this bounce is sustainable and more broadly, whether Friday marks a turning point for sentiment which was rapidly deteriorating will help determine whether global risk assets are able to rally into year-end.
Well on Wednesday, things got worse – and materially so.
Keep an eye on this – in an increasingly interconnected and interdependent global market, these tech selloffs are demonstrating a propensity to spread quickly. And there’s some poetic justice in that, right? After all, tech is all about connecting the world.
“Today’s turmoil in the region’s tech stocks was sparked by the sell-off in their peers on Wall Street last night.”
“Luck, prosperity, and wealth.”
If U.S. shares needed an excuse to rally, they’ve got it.