Asian technology stocks were poised to fall on Tuesday after losses in US chipmakers deepened, overshadowing a sharp drop in Oil prices linked to hopes for diplomatic progress toward ending the War in Iran.
Equity-index futures for Japan and South Korea, markets with significant technology exposure, pointed lower. Australian shares moved higher.
In the US, a chipmaker gauge extended its decline to 12% over three sessions. The Nasdaq 100 was down 10% from its peak, placing it in a technical correction, while the S&P 500 fell 0.5%.
Sources: Bloomberg Markets.