Asian Futures Fall as U.S. Rout Extended While Crude Oil Climbs

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Asian index futures fell as U.S. stocks extended their retreat, with the Nasdaq 100 Index capping its biggest three-day slump since 2011 and the Standard & Poor™s 500 Index erasing its gain for the year. The dollar held declines versus the yen and euro while oil climbed.

Nikkei 225 Stock Average futures slipped 1.1 percent to 14,715 in Chicago after losing 0.5 percent to 14,740 in Osaka. Futures on gauges from Australia to South Korea lost at least 0.1 percent. S&P 500 futures climbed 0.1 percent by 7:31 a.m. in Tokyo after consumer and technology shares drove a 1.1 percent slide in the U.S. measure. The greenback was steady after losing at least 0.2 percent to its Japanese and euro-area peers in the last session. Crude in New York added 0.3 percent.

Traders dumping the biggest winners in the U.S. bull market has sent stocks from Yahoo! Inc. to TripAdvisor Inc. tumbling, with the rout in technology shares spreading to Asia and Europe amid concern over inflated valuations. The Bank of Japan issues a statement on monetary policy today, while Indonesia reviews interest rates. Alcoa Inc., the largest U.S. aluminum producer, unofficially opens the U.S. quarterly earnings season when it releases financial results today.

Copy Source : Bloomberg

S&P 500 Erases Gain for Year as Technology Shares Extend Slide

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U.S. stocks fell, pushing the Nasdaq 100 Index to its biggest three-day retreat since 2011 and erasing the year™s gains in the Standard & Poor™s 500 Index, as technology shares extended last week™s selloff.

The S&P 500 dropped 1.1 percent to 1,845.08 at 4 p.m. in New York. The Dow Jones Industrial Average slipped 166.78 points, or 1 percent, to 16,245.93. The Nasdaq 100 gauge of the biggest technology stocks fell 0.9 percent, bringing its three-day drop to 4.3 percent. The Russell 2000 Index of small companies sank 1.5 percent to an almost two-month low.

The S&P 500 rose to a record last week before trimming its weekly gain to 0.4 percent in the last two days, as the selloff in technology shares overshadowed optimism on Federal Reserve monetary stimulus.

Source : Bloomberg

U.S. Stocks Fall as Tech Extend Slide

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U.S. stocks fell a third day, after the Nasdaq 100 Index™s biggest drop in two years, as technology and consumer shares extended last week™s slide. European equities fell from a six-year high and Treasuries rose.

The Standard & Poor™s 500 Index lost 0.9 percent at 12:27 p.m. in New York for a third straight drop and a three-week low. The Nasdaq 100 fell 0.9 percent after a 2.7 percent slide on April 4. The Stoxx Europe 600 Index sank 1.2 percent, the most in a month. The yield on Spain™s 10-year bond rose three basis points to 3.18 percent while Treasuries advanced to the highest level in more than a week.

Technology shares have been hit as traders dump the biggest winners of the bull market amid concern valuations have advanced too far. The Russell 2000 Index of small companies has lost 6.1 percent since a March 4 record. Alcoa Inc., the largest U.S. aluminum producer, unofficially kicks off the U.S. quarterly earnings season when it releases financial results tomorrow. Bonds rose as investors speculate lower-than-estimated U.S. jobs growth won™t prompt the Federal Reserve to accelerate stimulus cuts.

Consumer stocks fell 1.8 percent today, the most among the 10 main S&P 500 groups, after dropping 1.7 percent on April 4. The industry has lost 5.8 percent since a record close on March 6. Industrial and financial shares retreated 1.2 percent.

Source : Bloomberg

European Stocks Decline as Technology Shares Slump

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European stocks fell from a six-year high, posting their biggest decline in a month, as shares of technology companies tumbled.

Technology shares lost 2 percent, the most among 19 industry groups in the benchmark gauge, with United Internet AG falling 4.3 percent and ARM Holdings Plc dropping 2.4 percent. Osram Licht AG slid the most since it started trading after its spinoff from Siemens AG as Berenberg Bank lowered its rating. Altice SA jumped 11 percent, while Bouygues SA slumped the most since August 2012, after Vivendi SA agreed to sell its phone unit SFR to Altice in a deal valued at more than 17 billion euros ($23.3 billion).

The Stoxx 600 fell 1.2 percent to 334.96 at the close of trading. The Nasdaq Composite Index declined 2.6 percent on April 4 for its biggest drop in two months, with shares from Google Inc. to Yahoo Inc. plunging as investors sold the bull market™s biggest winners.

The Stoxx 600 dropped today after nine straight days of gains amid merger and acquisition activity and as U.S. payrolls and manufacturing increased optimism that the world™s largest economy is strengthening. It rose on April 4 to the highest level since January 2008.

National benchmark indexes retreated in all western-European markets today except Iceland. France™s CAC 40 and the U.K.™s FTSE 100 fell 1.1 percent each, while Germany™s DAX slid 1.9 percent.

Copy Source : Bloomberg

U.S. Stocks Decline as Technology Shares Slump Before Earnings

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U.S. stocks fell, following the biggest drop for the Nasdaq 100 Index in two years, as technology shares slipped and investors awaited this week™s start to the corporate earnings season.

Facebook Inc., Twitter Inc., and Priceline Group Inc. fell at least 0.4 percent.

The Standard & Poor™s 500 Index retreated 0.3 percent to 1,860.30 at 9:31 a.m. in New York. The Nasdaq 100 gauge of the biggest technology stocks slumped 0.6 percent.

The S&P 500 rose to a record last week before trimming its weekly gain to 0.4 percent in the last two days, as the selloff in technology shares overshadowed optimism on Federal Reserve monetary stimulus.

Technology shares are being hit as traders dump the biggest winners of the bull market amid concern valuations have advanced too far. The Nasdaq 100 fell the most in two years on April 4 with declines in all but four stocks. The gauge sank 0.9 percent for the week after surging 35 percent in 2013.

The Nasdaq Composite Index, which slid the most in two months on April 4, trades at 31.8 times reported earnings of the companies in the index. That™s almost twice the ratio for the S&P 500, which trades at 17 times earnings.

Copy Source: Bloomberg