Global Tech Rout Deepens as Sector Slides Further From Peaks
- Surging commodity prices stoke concern about inflation
- Nasdaq 100 futures extend losses after 2.6% drop on Monday
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The worldwide slump in technology stocks deepened Tuesday, with investor angst over inflation and stretched valuations adding to fresh signs of regulatory scrutiny in China.
Futures on the Nasdaq 100 tumbled 1.3% after the underlying index’s 2.6% slide on Monday, while Europe’s Stoxx 600 Technology Index dropped as much as 2.5%, led lower by semiconductor makers and pandemic winners.