US stocks were pressured amid renewed tech selling – Newsquawk Asia-Pac Market Open

US stocks were pressured as weakness in mega-cap names (NVDA, AVGO, META, MSFT, AMZN) weighed on the tech-heavy Nasdaq 100, which unsurprisingly saw Tech as the clear sectoral laggard. Communications and Discretionary were the next worst hit, while Energy, Materials, Consumer Staples, and Utilities all saw gains in excess of 1%, with Energy underpinned by gains in oil prices due to heightened US/Iran rhetoric after a report that Iranian gunboats approached a US oil tanker in the Strait of Hormuz early Tuesday and ordered it to stop, while the US military shot down an Iranian drone that approached a US Navy aircraft carrier in the Arabian Sea.…

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