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Nasdaq slumps overnight, ASX 200 shares to open weaker – The Motley Fool Australia
The Nasdaq slumped 2.70% overnight, driven by concerns over rising bond yields. The ASX 200 is looking to follow, with a weaker open expected.
Increasing bond yields continue to be the talk of the town, raising concerns about stretched company valuations and higher interest rates. Overnight in the United States, selloff woes continued for tech and growth-related sectors, with the Nasdaq Composite (NASDAQ: .IXIC) falling by 2.70%.
What happened overnight?
Benchmark US government yields inched higher overnight to close at 1.47%. To add some perspective, yields have been continuously falling from 3% in late-2018 to as low as 0.50% in mid-2020….
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