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Stocks stabilise following tech retreat as greenback strengthens

Bloomberg
Bloomberg • 3 min read
Stocks stabilise following tech retreat as greenback strengthens
Speculators slash bullish NASDAQ 100 best to lowest since May.
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Global stocks mostly stabilized Monday though investors remained on edge after the biggest two-day slide for shares since June. The dollar edged higher and crude oil extended its recent slide.

Shares were little changed in Japan and China, and climbed in South Korea and Australia. Stocks fluctuated in Hong Kong, where protests again flared up on Sunday. U.S. futures pared earlier losses, while European contracts pointed to solid gains. U.S. markets are shut Monday for a holiday after the worst week for the Nasdaq since March. Treasury futures were flat after a slide in bonds on Friday, a move which Australian debt tracked on Monday.

Meanwhile, shares in SoftBank Group Corp. slumped after reports it had made massive bets on options trades linked to U.S. tech stocks. The pound ticked lower going into another round of Brexit negotiations.

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