(Bloomberg) -- US stock futures rose, as dip buyers emerged after global equities witnessed a three-day selloff on concerns of a possible slowdown in the...
-- US stock futures rose, as dip buyers emerged after global equities witnessed a three-day selloff on concerns of a possible slowdown in the world’s largest economy and extreme valuations in the technology sector.Futures on the S&P 500 Index were up 1.4% as of 6:55 a.m. in London on Tuesday while contracts on the Nasdaq 100 rose 1.7%. Markets bounced back elsewhere as well, with Japan ’s Topix jumping more than 8% as the yen weakened after a five-day surge against the US dollar.
The easing of the yen provided some relief Tuesday after sharp gains in the currency as the Bank of Japan raised interest rates last week. That had sparked an unwinding of carry trades, or borrowing at low rates in Japan to fund purchases of higher-yielding assets elsewhere, such as technology stocks.
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