Sep. 1 at 6:08 PM
Tech Selloff Continues; European Stocks Edge Up, Japan Slides
U.S. markets were closed Monday for Labor Day, giving global investors a pause after last week’s tech-led selloff.
In Europe, equities started September with modest gains. The Stoxx 600 rose 0.23%, Germany’s DAX climbed 0.57%, while London’s FTSE 100 and Paris’s CAC 40 ended flat.
Asia showed weaker momentum. Tokyo’s Nikkei 225 fell 1.24% as investors took profits in chipmaker Advantest
$6857.T, echoing Friday’s Wall Street drop when six of the “Magnificent Seven” weighed on the broader market. Deutsche Bank noted risk assets are beginning September on a “tentative footing.”
Hong Kong bucked the trend. The Hang Seng jumped 2.15% after Alibaba reported a surge in AI-related revenue.
In commodities, gold futures advanced 0.8% to
$3,546 an ounce, after briefly touching a record above
$3,557 earlier in the session.
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