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Asian equities dive as American tech companies experience more scrutiny
On Wednesday, Asian equities headed south right after Wall Street was knocked heavily by worries as for tighter controls on the tech industry, thus affecting a brief global shares revival powered by expectations that the risk of a US-China trade conflict was relieving.
MSCI's index of Asia-Pacific equities MIAPJ0000PUS headed south 0.9%, with tech-heavy Korean stocks KS11 diving 1.4%.
In Japan, the Nikkei N225 inched down 2.1%.
Meanwhile, the S&P 500 decreased 1.73%, the Nasdaq Composite sagged 2.93%, making their fourth dive for five trading sessions.
On Tuesday, Facebook lost 4.9%, taking its losses to approximately 18% since March 16, exactly when the company first acknowledged the issue.
Besides this, Twitter headed south 12%, Google parent Alphabet decreased 4.5%.
Nvidia headed south 7.8% right after the chipmaker temporarily ceased self-driving tests around the world after an Uber Technologies Inc autonomous car had a female killed.
Worries as for trade clashes the United States and China lingered too, although new of behind-the-scenes negotiations between the both countries generated some optimism.
Meanwhile, the evergreen buck showed 105.51 yen, which is not far from Monday's 16-1/2-month minimum of 104.56. It’s because Japan’s currency was underpinned by the risk-averse mood.
The currency pair lost steam after poor euro zone economic data as well as remarks from European Central Bank policymakers pointing to low inflation.The common currency reached $1.2415.
On Tuesday, Germany's 10-year Bund revenue reached two-month minimum of 0.500%, having taken a downward move since reaching a 1-1/2-year maximum of 0.795% on February 15.
Additionally, the 10-year American Treasuries revenues dived to 2.770%, which is its lowest value for seven weeks. As for the two-year revenue, it demonstrated a result of 2.270%.
American WTI crude futures dived 0.8% hitting $64.72, Brent crude futures decreased 0.7% resulting in $69.62 per barrel.
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