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Why last week’s great tech sell-off should make investors wary

September 8, 2020

Via: Fortune

Good morning. A risk-off mood continues to hang over the markets as U.S. futures—particularly, tech futures—lose ground, following European stocks lower.

Let’s check in on the action.

Markets update

  • The major Asia indexes are clinging to gains in afternoon trading, with Japan’s Nikkei up 0.8%.
  • Japanese shares are higher despite news that Japan’s Q2 GDP collapse was actually worse than first thought. It shrank 7.9% in a revised reading.
  • President Trump vowed on Monday to cut more economic ties with China, suggesting in a speech yesterday that “Made in America” tax credits and tariffs on U.S. companies that move operations to China (or elsewhere overseas) would be part of his second-term agenda.

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