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SoftBank Selloff Hits $17 Billion After Tech Exposure Fear Grows

  • The Japanese company has shed 14% of value since Monday
  • Investors are grappling with the recent market turbulence
Updated on

SoftBank Group Corp. slid as much as 7.1% Wednesday, taking losses to about 14% this week after the Japanese conglomerate made substantial bets on equity derivatives in tech stocks before a broad sector selloff.

The Japanese company touched a low of 5,432 yen in Tokyo morning trade. It has shed roughly $17 billion of market value since Monday as SoftBank’s big bets on high-flying tech stocks from Inc. to Alphabet Inc. spooked investors.