Wall Street's main indexes dipped today, driven by a renewed selloff in technology stocks, as well as commentary from Federal Reserve officials which added to doubts about an interest rate cut in December.
The Dow Jones fell 235 points (0.49%) at the open to stand at 47,222, while the S&P 500 lost 65 points (0.97%) to trade at 6,672 and the Nasdaq Composite index dropped 325 points (1.42%) to reach 22,544.
European markets continued to see falls this afternoon as a hawkish tone from US Federal Reserve officials doused hopes for a December US rate cut, while a still-messy data US economic data calendar and worries about an AI bubble added to the angst.
London's FTSE index had dropped 162 points (1.6%) to stand at 9,646 by 2.30pm, while the Paris CAC was down 110 points (1.3%) to trade at 8,122 and the Frankfurt DAX lost 365 points (1.5%) to reach 23,676.
Dublin's ISEQ index was also lower this afternoon, falling by 244 points (1.9%) to hit 12,290. Shares in Origin Enterprises sank 4.5% to stand at €3.60, while Uniphar was down 2.3% to trade at €3.81. Shares in AIB shed 2.3% to hit €8.49 and Ryanair dropped 2% to reach €26.74.
Earlier in Asian trade, Tokyo's Nikkei index sank 905 points (1.77%) to close at 50,376 as tech stocks tracked Wall Street peers' overnight losses amid mounting concerns over sky-high valuations. Hong Kong's Hang Seng lost 500 points (1.8%) to finish at 26,572 as an overnight tumble on Wall Street and China's weak economic data soured sentiment.
