Asia Markets: Tech stocks weigh on Asian markets after Wall Street selloff [MarketWatch]
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Source: MarketWatch
Tech stocks weigh on Asian markets after Wall Street selloff Asian stocks opened lower Tuesday after tech shares fell sharply in the U.S. overnight due to concerns about whether Facebook Inc. did enough to stop improper access and handling of user data. The Nikkei Stock Average NIK, -0.99% opened 0.8% lower while Australia’s S&P ASX 200 XJO, -0.60% fell 0.6%. South Korea’s Kospi SEU, -0.38% sank 0.3% as Samsung Electronics 005930, -0.59% dropped 0.6%. The Asian declines followed sharp losses for the tech sector in the U.S. Facebook FB, -6.77% shares plummeted 6.7% and slid another 1.5% in after-hours trading after investors learned Cambridge Analytica, a firm that helped President Donald Trump’s 2016 election campaign, had collected and used without permission data from the accounts of millions of users. Cambridge Analytica has said it complied with Facebook’s rules. The Nasdaq Composite fell 1.8%, and the S&P 500 declined 1.4%. Funds tracking the MSCI Emerging Markets
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