Global tech rout deepens as investors rotate into Treasuries and yen

Bloomberg ·
Global tech rout deepens as investors rotate into Treasuries and yen
  • The global rout in technology stocks deepened this week as investors rotated out of the year's hottest trade and sought safety in Treasuries and the yen.
  • Kospi fell 1.5%, on course for its worst close since April, as Samsung Electronics retreated.
  • MSCI's Asia Pacific equities gauge fell 0.7%, hovering near levels last seen in July.
  • Crude oil extended its gains during the selloff.