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🇹🇼 Taiwan /Economy & Trade

Tech Stocks Still Bleeding: US Markets Open Lower, Taiwan Futures Decline

From Liberty Times · () Chinese

Translated from Chinese, summarized and contextualized by DistantNews.

At a glance

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  • Asian stock markets, including Taiwan, Japan, and South Korea, fell sharply on Friday due to a sell-off in technology stocks.
  • US tech stocks also declined in pre-market trading, contributing to a weak opening for American markets.
  • Concerns over rising artificial intelligence infrastructure costs are fueling a global tech stock sell-off.

Global technology stocks continued their downward trend on Friday, dragging down Asian markets including Taiwan, Japan, and South Korea. The sell-off intensified amid growing concerns about the escalating costs associated with artificial intelligence infrastructure.

In pre-market trading, US tech stocks showed weakness. The S&P 500 futures fell 36 points to 7387, Nasdaq futures dropped 356 points to 29378, and Dow Jones futures were down 49 points to 52290. Major tech companies saw significant pre-market declines, with Micron down 5.6% and Taiwan Semiconductor Manufacturing Company (TSMC) ADR down 1.8%. Nvidia also slipped 1.2%.

Despite the broader market downturn, Apple shares showed a slight recovery, trading up 0.6% in pre-market after a significant drop on Thursday. On the Taiwan Futures Exchange, the night market index, after briefly surpassing 45,000 points and gaining over 400 points, reversed its gains to trade down 158 points at 44294, reflecting the volatile market sentiment.

DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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