Business and finance news from the Asia-Pacific.
Technology shares led a global stock selloff as another round of disappointing earnings accelerated a rotation out of the artificial intelligence trade and drove investors toward haven assets. Treasuries rallied. Amazon.com Inc. slumped 7.3% in extended trading after reporting higher spending, while growth in its online business slowed. Intel Corp. plunged 23% in after-market trading as its revenue missed estimates. Futures for the tech-heavy Nasdaq 100 Index slid 2.3% as Amazon and Intel added to a string of disappointing earnings from megacap tech companies this week. Alphabet Inc. posted a record drop Thursday as its results underwhelmed, while Samsung Electronics Co. sold off after the lack of a new shareholder return plan disappointed investors. We speak to Winnie Hsu, Bloomberg's Asia Equities Reporter.
And - for more on the global stock sell off, Bloomberg's Haidi Stroud-Watts spoke to UBS Global Wealth Management Head CIO Asia Equity Strategy Suresh Tantia.
See omnystudio.com/listener for privacy information.