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ASX set to fall as Wall Street hit by tech sell-off – Sydney Morning Herald

Heavy falls for the likes of Apple, Google, Facebook and Amazon weigh down Wall Street and set up the ASX for losses this morning.

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Small company stocks also had a rough day. The Russell 2000 index fell 58.93 points, or 2.6 per cent, to 2,212.70.
Wall Street has been mostly rising in recent weeks amid expectations of an economic recovery and strong profits this year. Massive support from the US government and the Federal Reserve, and increasingly positive economic data, have also encouraged investors to push stock prices to all-time highs, despite an undercurrent of worry about inflation and the potential for higher interest…

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