Global equities find some footing after another slide in US tech stocks, led by a record fall in Tesla
- European and US equity futures rose on Wednesday as investors went bargain-hunting following a massive sell-off in Big Tech.
- Asian indices declined after the previous day’s total wash-out saw tech favorites such as Apple, Amazon, Facebook, and Zoom slump over 4% and Tesla falling by a record 21%.
- In the UK, the pound fell 1.5% against the dollar to its weakest in six weeks.
- “As sterling nervously awaits the unveiling of Boris Johnson’s international law-breaking UK Internal Market Bill, the FTSE continued to celebrate the currency’s bout of Brexititis – a long-dormant condition that has recently seen a serious flare-up,” a financial analyst at SpreadEx said.
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Global equities regained some stability on Wednesday even as investors continued to dump highly-valued technology