Key facts
- Asian stocks followed Wall Street lower, with technology shares leading the decline.
- The MSCI Asia index fell as much as 0.7% in early trading.
- S&P 500 futures also declined amid a drop in megacap tech stocks and rising bond yields.
- SpaceX shares have fallen for three consecutive days, losing significant market value.
- US has authorized Iran oil sales.
- US officials reported positive discussions with Iran.
Asian stock markets followed Wall Street lower on Monday, with a significant drop in technology shares contributing to the downturn. The MSCI Inc. gauge of regional shares fell as much as 0.7% in early trading. This followed a slide in the US benchmark index, which closed down 0.4% on Monday, driven by losses in megacap tech stocks and rising bond yields. S&P 500 futures also indicated a weaker open.
SpaceX shares continued their decline for a third consecutive day, erasing billions of dollars in market value. Investors are also closely monitoring developments in US-Iran peace talks, with reports indicating positive discussions and US authorization of Iran oil sales.