Tech stocks tumble globally as oil prices stay above $100 and markets await key data

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Tech stocks tumble globally as oil prices stay above $100 and markets await key data
Photo: Lee Jin-man/AP/TT

During overnight trading in Asia, large technology stocks linked to AI have had a tough time, with prices falling by more than 7 percent for both Samsung Electronics and SK Hynix.

The price of North Sea oil (Brent) is retreating from yesterday's peak of $102 per barrel, but remains above $100 per barrel - almost 40 percent higher than at the beginning of July.

Preliminary purchasing managers' indices for July from the world's major economies are expected on Friday.

The Stockholm Stock Exchange closed down 0.8 percent on Thursday. Since the beginning of the year, the OMXS index is up 5.0 percent.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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