Shares: Technology Sector and Losses

shares: US shares were set to open sharply firmer, futures indicated after two days of losses that wiped out the S&P500's gains for the year and left the tech-heavy Nasdaq index teetering on the brink of falling into the red, according to Nine News Australia. Losses have been concentrated in the technology sector, as investors lightened holdings of FAANG shares -- Facebook, Apple, Amazon, Netflix and Google -- the group that had propelled the Wall Street's decade-long bull market. To improve your experience update it here News World Stocks struggle after tech-driven rout9 05pm Nov 21, stocks have attempted to steady following a bruising Wall Street session that wiped US1 trillion A1.4 trillion off the value of leading US tech shares, while oil prices staged a modest rebound after slumping to one-year lows. The falls saw the Nasdaq index touch seven-month lows and energy shares too had dropped in line with a 6 per cent oil price slump S&P 500 . That fed through to Asia on Wednesday, taking MSCI's index of ex-Japan Asia-Pacific shares almost half a per cent lower, but it clawed back some of those falls to trade flat by 0900 GMT. MSCI's all-country benchmark was flat too, attempting to snap two days of falls. David Vickers, senior portfolio manager at Russell Investments, noted however that gloom has tended to deepen as the Wall Street session progresses and more company earnings emerge. That, alongside a 1.5 per cent bounce in Brent crude futures and some optimism over Italy's budget stance, helped European equities open 0.4 per cent higher, with a tech index up half a per cent. (news.financializer.com). As reported in the news.