Asian markets have declined, as tech selloffs have spread around the world

Asian stocks fell on Wednesday after selling in large technology stocks on Wall Street. Crude oil prices and treasury yields also weakened.

Tokyo’s Nikkei 225 NIK,
Lost 1.5% and Hang Seng HSI,
Hong Kong fell 1%. Australia S&P / ASX 200 XJO, Australia
2.3% and the Shanghai Composite Index SHCOMP.
1% shade. Kospi of South Korea 180721,
Decreased 0.8%.

Softbank Group Corp.
, Which fell 5%, Alibaba Group Holdings 9988,
, Whose shares are up 2.5% in Hong Kong and semiconductor manufacturer SMIC. Decreased to 981,
Is, which has lost 2.7%.

Shares also fell in Taiwan Y9999,
And most of Southeast Asia JCX,

The trial of the Astra-Zeneca coronavirus vaccine and the difficulties caused by Sino-US tensions have also put investors at a disadvantage.

Stephen Ines of Axicorp said, “At the very least, the optimism balloon spread by the hope of a vaccine has been a big leak.” Said one commenter.

Citing national security concerns, U.S. In an attempt to limit the use of technology, President Donald Trump spoke of “displaining” the US economy with China.

Relations between the world’s two largest economies have been strained for years, and global growth is threatened by a further weakening of global growth at a time when the coronavirus epidemic has pushed many countries into recession.

Overnight, S&P 500 SPX,
Fell 8.8% to 33,33331.84 to begin its first three-day losing streak in about three months. All stocks were down about 90%.

Apple Pal AAPL,
, Microsoft Microsoft MSFT,
And Amazon AMZN,
Big Tech stocks sank more than 4%, torpedoing the broad market index. The Nasdaq composite in tech stocks fell 4.1% to 10% as it hit its last record high on Sept. 2.

Dow Jones Industrial Average DJIA,
Lost 2.2% to 27,500.89. Nasdaq Joint COMP,
, Which is full of tech stocks, fell 4.1% to 10,847.69 and has fallen 10% since it hit its latest record on September 2.

Tech stocks have raised expectations that they can continue to deliver strong profit growth regardless of the economy and global health. Tech shares in the S&P 500 are still up about 23% in 2020, and Amazon still holds 70.5% despite the devastation to the economy from the epidemic.

Analysts say activity turmoil for stock options of big tech companies has also boosted the rally recently. With certain types of options, investors can make a big profit on a stock without having to pay for its full share price until the stock price continues to rise. If enough of these types of stock options are being sold, it can create a buying frenzy that accelerates profits.

But all that activity can quickly uninstall and send a mess to the price, like it started last week. Critics have long said that large technology stocks have risen sharply, although their strong profits have risen.

Analysts have hailed the sudden face as a technological improvement.

Robert Cornell of ING Economics said in a report that there is more discussion about ‘risky’, but this does not yet take into account the over-buying situation rather than the usual flight for safety. “This is a tidy if significant reduction. There are clearly buyers at the time of going down. “

The 10-year Treasury yield fell to 0.67% from 0.72% late Friday night. But that’s significantly higher than the 0.53% on offer in late July.

The growing prospect of Democrats and Republicans in Washington failing to get a deal to send more aid to unemployed workers is also pushing for more help for the U.S. economy.

Expectations or slower growth mean that oil prices have outpaced supply and demand. Benchmark US Crude CLV20,
+ 1.57%
Electronic trading on the New York Mercantile Exchange fell 28 cents to .4 36.48 a barrel. It rose to 1.31 per barrel on Tuesday. Fell 36.76. Brent Crude BRNX20,
+ 1.15%
, International standard, with a reduction of 25 cents to 39.53 barrels per barrel. It fell 2.23 overnight to .7 39.78.

Hayaki Narita of Mizhoho Bank said in a comment that the key reason for the buckle of oil appears to be once again the risk of raising serious doubts over the US-China recovery expectation of a fairly stable demand recovery.

In currency transactions, USD USDJPY,
The Japanese yen fell from 106.05 yen to 105.93.