World markets shrug off tech-led selloff on Wall Street

Published February 4, 2022 3:13 AM

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Markets in Europe and Asia have advanced after a historic plunge in the stock price of Facebook’s parent company yanked other tech stocks lower on Wall Street. Shares rose in Paris, Frankfurt and Tokyo. Hong Kong jumped 3.2% after reopening from Lunar New Year holidays. Shanghai remained closed. The retreat Thursday in New York ended a four-day winning streak for the market. Meta Platforms, as Facebook’s owner is now known, lost more than $230 billion in market value, the biggest ever one-day loss for a U.S. company. Investors will get updates on U.S. employment with the Labor Department’s monthly report for January on Friday. Fresh inflation data are due next week.

Article Topic Follows: AP National Business

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