Covid fears and rising interest rates are weighing on investor sentiment, and tech stocks have taken a hit yesterday. German 10-year inflation linked bond yields climbed nine basis points to 3-week highs yesterday, while New Zealand's central bank raised interest rates for the second consecutive month today.
Apple supplier IQE, which makes semiconductor wafers for chips, dropped 19.6% after posting a downbeat earnings guidance.
In other news, Johnson Matthey announced that it is selling its Advanced Glass Technologies business to Fenzi Holdings SPV for 178 million pounds.
Things to read today:
Will tapping the US Strategic Petroleum Reserve lower oil prices? (Financial Times)