Asian markets sink as U.S.-China tensions increase, U.S. tech shares slide

Asian markets sink as U.S.-China tensions rise, U.S. tech stocks fall

Shares fell in Asia early Friday, following climbing tensions in between the U.S. and China and a selloff of tech stocks on Wall Street.

Hong Kong’s Cling Seng index
fell 1.9% though the Shanghai Composite
sank 2.3% and the scaled-down-cap Shenzhen Composite
slide 2.9%. South Korea’s Kospi
declined .6%, and benchmark indexes in Taiwan
, Singapore
and Indonesia
all dropped. Australia’s S&P/ASX 200
retreated 1.2%.

Marketplaces in Japan had been shut for a holiday.

On Friday, China purchased the U.S. consulate in the western city of Chengdu shut, in retaliation for the U.S. closure of the Chinese consulate in Houston next allegations of spying.

“For investors, what matters is regardless of whether political escalation morphs into economic escalation. So significantly, there are no hints still that either side is inclined to ramp up the trade war in a world-wide economic downturn,” wrote Stephen Innes, chief world markets strategist at AxiCorp, in a note.

Shares on Wall Street sank Thursday, led by declines by Apple
and Microsoft

The Dow Jones Industrial Ordinary
shut 353.51 details decrease, or 1.3%, to 26,652.33, though the S&P 500 index
concluded down 40.36 points, or 1.2%, at 3,235.66. The know-how-large Nasdaq Composite Index
misplaced 244.71 details, or 2.3%, to 10,461.42.

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