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

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. That move raised the alarm on Wall Street that yields, and the interest rates they influence, will move higher

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city Tokyo: Main News

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.

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