MARKET OPEN: Rout in US equities to weigh on sentiment

Fri, 04 Sep 2020

Investor sentiment will be weighed down by a rough night on Wall Street after traders dumped tech stocks on jitters about the economic recovery. “A rout in US equities, led by overheated tech stocks, dominated the overnight session,” said ANZ Bank chief economist Sharon Zollner. Facebook, Apple, Amazon.com, Microsoft and Google-parent Alphabet – which gained during the lockdowns as people shifted online – were all down by 4-to-7 percent in late afternoon trading. The Dow Jones Industrial Average was down 2.8 percent at 8am in Wellingto...

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