U.S. Market:
AIG - 55.13 +0.15 0.273% Apple - 115.68 +1.05 0.916% Bank of America - 17.20 +0.10 0.585% Cisco - 27.6925 -0.1275 -0.458% Citigroup - 54.64 +0.28 0.515% Coca-Cola - 43.90 -0.64 -1.437% Facebook - 75.1399 -0.3201 -0.424% Ford - 16.105 +0.205 1.289% GE - 26.38 +0.33 1.267% Hewlett-Packard - 38.885 -0.065 -0.167% Intel - 37.70 +0.10 0.266% JPMorgan - 61.12 +0.04 0.065% McDonald's - 95.22 +0.11 0.116% Microsoft - 48.16 -0.30 -0.619% Pfizer - 31.38 -0.19 -0.602% Starbucks - 80.328 -0.042 -0.052%

World equities hit two-week low as tech stocks retreat


World equities hit two-week low as tech stocks retreat

By Atul Prakash LONDON (Reuters) - Global equities slipped to a two-week low on Friday as a sell-off on Wall Street led by technology and biotech shares and triggered by concerns that valuations are over stretched spread to Asia and Europe. The MSCI All-Country World index fell 0.4 percent by 0759 GMT to a two-week low, while the MSCI Europe index dropped 0.8 percent. "The sell-off is the result of increasing concerns about the future earnings growth," said Christian Stocker, equity strategist at UniCredit in Munich. "Valuations are high compared to previous years and the trend of earnings estimates is very muted in the U.S. and almost flat in Europe." Technology stocks led the retreat in Europe, with the sector index , following its U.S. counterpart, down 1.9 percent on growing fears the shares have risen too far, too fast and are now relatively expensive compared with the broader market.


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