US stocks also lost ground overnight dragged by Alphabet Inc, which dropped 9 per cent on missing cloud business revenue estimates. The S&P 500 lost 1.4 per cent, while the Nasdaq slipped 2.4 per cent. The Dow Jones fell 0.3 per cent.
Asian markets also declined this morning with South Korea’s Kospi and Japan’s Nikkei falling nearly 2 per cent each. Hang Seng in Hong Kong was flat. S&P/ASX 200 in Australia dipped over 1 per cent.
Nasdaq futures were sharply down up to 1 per cent in after market trade in the US.