Equities: Tech-led pullback weighs on indices – Danske Bank

Danske Research Team notes that major equity indices fell, led by weakness in the tech sector, which has dropped about 7% since Friday despite a modest rebound on Monday. Global equities closed slightly lower after a volatile session, while Asian markets and US equity futures also traded lower, highlighting broad-based pressure on equities.

Tech weakness drags global equities lower

"Major equity indices were dragged lower yesterday, led by tech, which have had a rough spell since Friday down about 7%, despite the slight rebound on Monday."

"Global equities finished down 0.2%, having been almost 1.8% lower earlier in the day, in a significant roller-coaster session."

"Tech was the primary source of weakness, joined only by the energy sector, which was weighed down by lower oil prices."

"Asian markets traded lower overnight, with South Korea among the weakest performers."

"US equity futures are also pointing lower this morning."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)