Week InReview: September 8, 2023

Tech drop.

Stocks in Asia were set to follow a big tech-led drop on Wall Street amid concern over how a Chinese ban on Apple's iPhone could impact the industry that has driven this year's market rally. The dollar strengthened and Treasuries rose. Contracts for equity benchmarks in Japan and Hong Kong declined, while those for Australia and the US were flat in early Asian trading. The Nasdaq 100 fell Thursday as Apple slid about 6.5% in two days, wiping out $190 billion in value. Traders also kept a close eye on the latest US economic data, with solid jobless claims figures reinforcing the case for the Fed to keep rates elevated.

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