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Following Jerome Powell’s comments indicating that the Fed would move to rein in inflation while avoiding much-feared drastic steps this year, tech stocks jumped, thus boosting several key Indices.
The Hang Seng index dropped on Wednesday as China's technology sector faced up to new government regulations and a tech drop overseas. The trading distress even reached beyond China's borders, as Singapore's Sea Ltd. was hit with a selloff as well.
Chinese investors extended a selloff Monday over ongoing concerns that Beijing wants to increase regulation hurdles to business. Alibaba and other internet giants targeted by officials underperformed.
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