$US2.5 trillion Nasdaq sell-off spreads across Asia | The Business

Summary

Wall Street's tech sell-off has spread to Asia as investors questioned the US Democrats' approach to data centre investment. BetaShares chief economist David Bassanese spoke to The Business' Alicia Barry. Mr Bassanese said the market reaction to the Democrats' victory in the US midterms election is "perplexing". On Wall Street, the pain was extreme, the S&P 500 sank 4.4%. The Nasdaq plunged 5.5% into correction territory and the Dow lost 3.4%. It was Wall Street's worst session since 'Liberation Day' tariffs were announced in April 2025. Australia was less exposed given the tiny technology…

Description from ABC News (Australia).