Global stocks fell on Tuesday, led by a retreat in Big Tech, as fears of higher US interest rates and a plunge in SpaceX shares soured sentiment towards a sector that has powered markets to records this year.
Futures tracking the Nasdaq 100 pointed to a 2.5 per cent drop at the open in New York, extending a volatile run for the tech sector this month, while those for the S&P 500 were down 1.4 per cent.
South Korea’s tech-heavy Kospi index tumbled 10 per cent, with chipmaker SK Hynix and memory chip group Samsung Electronics recording double-digit drops, as declines on Wall Street reverberated across Asian markets.
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