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Asian shares sink, Tokyo down 4% after tech rout on Wall St

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BANGKOK – Asian shares skidded Friday, with Tokyo's benchmark dropping 4% after rising bond yields triggered a broad sell-off on Wall Street that handed the Nasdaq composite index its steepest one-day loss since October.

Tokyo, Hong Kong and Sydney all fell 2% or more in early trading Friday. The tech-heavy Nasdaq shed 3.5% on Thursday while the S&P 500 dropped 2.4%, led lower by heavy selling in technology and communications companies.

The sell-off gained momentum when the yield on the 10-year U.S. Treasury note moved above 1.5%, a level not seen in more than a year and far above the 0.92% it was trading at only two months ago.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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