Rolling coverage of the latest economic and financial news, as Asia-Pacific markets slide after Wall Street rout
Despite the sharp losses suffered on global stock markets around the world, most indices are still up for the year.
The Nasdaq Composite index, for example, is still up 4.6% since the start of January – even though it’s more than 10% below its peak.
“The tech sell-off has intensified, with the pain of the brutal sell-off on Wall Street carried straight through to Asia and knocking sentiment in Europe.
Big worries are colliding – the build-out of data centres looks set to slow, which risks shredding the spending spree underpinning the boom, right at the time that investors have become super nervous about returns on this massive investment.
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