Global stocks extended losses after suffering their steepest drop in nearly a month on concerns over elevated valuations. Treasuries advanced and investors sought the safety of haven currencies such as the yen.
Asian shares fell 2.1% in their biggest intraday loss since April. US equity-index futures weakened, signaling further losses for the S&P 500 and Nasdaq 100 indexes after the gauges pulled back with tech shares hit the hardest. Sentiment was further dented as Super Micro Computer Inc. shares slumped in late trading and Advanced Micro Devices Inc. failed to impress investors with its revenue forecast.
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