MARKET OPEN: Tech rout to weigh on domestic sentiment

Wed, 09 Sep 2020

US investors were not cheered by their three-day holiday weekend and an ongoing tech-led selloff in equities will weigh on domestic sentiment. “The tech sector, former darling of the market, was hit the hardest and that negativity basically spilled over into other sectors,” Kiwibank trader Mike Shirley said. At session lows on Tuesday, Facebook, Amazon, Apple, Tesla, Microsoft, Alphabet and Netflix collectively lost more than US$1 trillion in market capitalisation since Sept. 2, Reuters reported. The Nasdaq was down 4.1 percent at 8am...

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