NASDAQ 100, HANG SENG, ASX 200 INDEX OUTLOOK:
- Dow Jones, S&P 500 and Nasdaq 100 closed +0.06%, -0.67% and -1.85% respectively
- Janet Yellen’s interest rate comments sparked fresh tapering fears, boosting the US Dollar
- Futures in Australia and Hong Kong are positioned for losses following a sour Wall Street lead
Tech Pullback, Janet Yellen, USD, Asia-Pacific at Open:
Nasdaq 100 index fell 1.85% on Tuesday as profit-taking ramped up on fresh tapering fears. US Treasury Secretary Janet Yellen said interest rates may have to rise moderately to keep the economy from overheating. Her words echoed comments from Dallas Fed president Robert Kaplan at the end of last week, who said it’s time to start debating a reduction in bond purchases amid signs of excessive risk-taking.