Business

Tech stock sell-off spreads through world markets

By Associated Press
Published April 7, 2014 4:29pm ET
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Tech stock sell-off spreads through world markets
A man looks at an electronic stock price indicator in Tokyo Monday, April 7, 2014. Internet and technology stocks tumbled across Asia on Monday as a sell-off spread from Wall Street where investors knocked down such companies over worries about excessively high valuations. Japan's Nikkei 225 led regional declines, dropping 254.92 points, or 1.69 percent to closed at 14,808.85. (AP Photo/Shizuo Kambayashi) | Shizuo Kambayashi

LONDON (AP) — Mounting concerns over technology stocks weighed hard on stock markets around the world on Monday.

The latest bout of nerves started last Friday when mainstays of the Internet economy such as Google and Netflix that have surged over the past year were hammered as investors had a change of heart and decided prices were too high. The technology-heavy Nasdaq dropped 2.6 percent on Friday, its biggest one-day drop since February. It was down a further 1.4 percent Monday at 4,072.

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Asia Financial Markets Wall Street