Tech stocks losses, following sell-offs of their US peers overnight, pulled Asian shares sharply lower on Wednesday.
Investors are selling technology-related shares on concern governments might tighten their scrutiny over Facebook, reports AP.
Japan’s Nikkei 225 sank 1.8 per cent to 20,936.59 and South Korea’s Kospi slid 1.3 per cent to 2,419.89. Hong Kong’s Hang Seng index fell 1.4 per cent to 30,350.64.
China’s Shanghai Composite Index dropped 1.1 per cent to 3,131.48. Australia’s S&P/ASX 200 retreated 0.8 per cent to 5,786.70. Stocks in Taiwan, Singapore and other Southeast Asian countries also fell.
US stock markets finished sharply lower Tuesday. The S&P 500 index fell 1.7 per cent to 2,612.62. The Dow tumbled 1.4 per cent to 23,857.71.
The tech-heavy Nasdaq slid 2.9 per cent to 7,008.81. The Russell 2000 index of smaller-company stocks gave up 2.0 per cent to 1,513.57.
Benchmark US crude lost 54 cents to $64.71 per barrel in electronic trading on the New York Mercantile Exchange. The contract declined 30 cents to settle at $65.25 a barrel on Tuesday.
Brent crude, used to price international oils, fell 52 cents to $68.94 per barrel in London.
The dollar rose to 105.53 yen from 105.34 yen. The euro strengthened to $1.2419 from $1.2404.