A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.The bigger they are, the harder they fall.The old maxim wasn't originally a reference to stock prices, but it's a pretty apt summary of Wall Street's moves on Thursday that will likely set a bearish tone at th
The bigger they are, the harder they fall.
After rallying almost 40 per cent since the turn of the year, the Nasdaq posted its biggest one-day loss since March, dragged down 2.05 per cent by steep post-earnings plunges in 'mega tech' stocks Tesla and Netflix . Big increases in the dollar and U.S. Treasury yields on Thursday following the latest U.S. jobless claims figures - maybe a little over-cooked relative to the move in weekly claims - could also add to the broadly bearish tone in Asia.Core consumer inflation likely re-accelerated in June to a 3.3 per cent annual rate from 3.2 per cent the previous month, staying above the central bank's 2 per cent target for the 15th straight month.
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