CNBC Daily Open: Tech-tonic shift or buying opportunity?
A retreat in US technology shares led by the Nasdaq has triggered declines across global markets. South Korea's Kospi fell over 8%, triggering circuit breakers. Investors are now debating if this downturn is a deeper correction or a buying opportunity.
What changed
New data specifies the Nasdaq fell 1.32%, SpaceX dropped about 16%, and South Korean markets triggered circuit breakers.
Live updates
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Global Markets Drop as Big-Cap Tech Sell-Off Intensifies
confidence 90%A retreat in US technology shares led by the Nasdaq has triggered declines across global markets. South Korea's Kospi fell over 8%, triggering circuit breakers. Investors are now debating if this downturn is a deeper correction or a buying opportunity.
What's confirmed:
- A sell-off in big-cap technology stocks triggered declines across global markets.
- The Nasdaq fell 1.32%.
- South Korea's Kospi fell over 8%, triggering circuit breakers.
Still unconfirmed:
- SpaceX tumbled about 16% after consecutive declines.
- The US granted a 60-day license for oil from Iran.
- Indian fintech unicorn Cred secured a $900 million funding round led by Meta.
- Cred founder Kunal Shah departed for WhatsApp.
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Global Tech Sell-Off Drags Down Stock Futures and International Markets
confidence 90%A broad sell-off in megacap tech and AI stocks is driving global markets lower. US stock futures, including the Nasdaq, are tumbling alongside Asian and European shares. Investors are reacting to cooling AI momentum and bets on Federal Reserve rate hikes.
What's confirmed:
- Nasdaq futures have fallen 2%.
- Megacap tech stocks are leading a global sell-off.
- US stock futures are tumbling.
- European stocks are trending lower.
Still unconfirmed:
- The KOSPI experienced a 10% fall.
- A slide at SpaceX contributed to the deepening tech sell-off.