Technology stocks skid after overnight rout at Wall Street

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KUALA LUMPUR (June 13): Technology-related stocks on Bursa Malaysia skidded at mid-morning today after a sell-off in Apple and other tech heavyweights dragged stocks down for a second session on Monday, while the US dollar slipped ahead of the US Federal Reserve meeting this week.

Technology stocks that fell this morning included Trive Property Group Bhd, Unisem (M) Bhd, Pentamaster Corp Bhd, ViTrox Corp Bhd, Willoglen MSC Bhd, KESM Industries Bhd, Inari Amertron Bhd, Globetronics Technology Bhd, GHL Systems Bhd and Elsoft Research Bhd.

The technology sector rout weighed on all three major US stock indexes and raised concerns about lofty US share levels, according to Reuters.

The Nasdaq ended down 0.5% after falling 1.8% on Friday. Apple lost 2.5%, though other tech giants Alphabet, Facebook and Microsoft also were down, it said.