Powered by more than 27 journalists and analysts in more than 120 countries. I am Alisa Parenti. This is bloomberg. Bloomberg technology is next. Caroline i am caroline hyde. This is Bloomberg Technology from london. Coming up, the tech selloff goes global. Investors weighing the sectors biggest names. We will analyze every turn of the worst two days contact this year. Uber ousts its head of business. We have the inside track on the surprise exit. He joins us at the launch of london tech week for a bloomberg exclusive. Lead, stocks follow around the globe led lower by tech shares. Biggeste, it had the decline in almost a year since june 27 of 2016. The slide continued in the united states. Some of the largest firms posted the biggest declines including apple, netflix, and alphabetic. Oliver renick joins us from new york. You my firstbring one. I am digging into the terminal. 9317. I am looking at the slump in european stocks, down 3. 6 . Im looking at the slump in the u. S. Nasdaq in t
We will go to San Francisco shortly for the latest on changes in ubers leadership. On thewe have our eye middle east with the crisis in vauxhall, later in the program. This is daybreak asia, coming to you from 7 00e it is just after a. M. In hong kong. I am yvonne man. We escaped the typhoon in hong kong. A whirlwind of a storm. The selloff going global. It is hard to tell if this is a pause or meaningful rotation out of some of these growth stocks. Betty it seems to make perfect sense, right . Yvonne, these big tech shares are the ones that have led the rally, so you can see at some point, investors would say let us take some profit on these gains. The question is, what is the timing . What gives here . That is what investors are tied to parse through in the next few hours. Heavy some of the tech investors. That looks set to continue. Let us look at how the state of play is into new zealand. Plenty flat. The kiwi at 72. 02. Australia returning back from its holiday, could play catchup
The chances of a rate hike this week are almost 100 . Haidi big u. S. Banks, preparing you regulations. New regulations. Rishaad how innovative is hong kong 20 years after the handover . Has the city slipped off the pace . We are looking at chinese shares. We have aged shares. Lets bring up this chart. All we have isou a situation that they are cheap, but this is something going on for a wild. Looking back to 2006, seeing how cheap they are in terms of valuation and a share counterparts. Betteralso have is value, something people are counting on for a while. That margin or divergence between the two has always been per point the would narrow, but is seemingly remaining at the same level. Its amazing how many people the alignment never really seems to happen. Haidi people are always talking about the convergence eating inevitable, but it has not happened, continuing to confound analysts. Size signssee of evening signs of easing when it comes to this tech tantrum. After watching tencent
Executive order targeting majority muslim countries discriminated on the basis of religion. Jeff sessions will testify publicly to the Senate Intelligence panel tomorrow. The attorney general will answer questions about his role in the firing of former f. B. I. Director james comey. Sessions requested a public event. Bloomberg will have live coverage of mr. Sessions testimony beginning tomorrow at 2 30 wall street time. This is bloomberg. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. This is bloomberg. Caroline i am caroline hyde. This is Bloomberg Technology from london. Coming up, the tech selloff goes global. Investors blaming the sectors biggest names. We will analyze every turn of the worst two days contact this in tech this year. Uber ousts its head of business. We have the inside track on the surprise exit. The mayor of london joins us at the launch of london tech week for a bloomberg exclusive. First
And it is the biggest gaming event of the year. We will take you e3 in l. A. But first, to our lead, after years of speculation, apple is finally lifting the hood on its car ambitions focusing on the , technology that makes autonomous driving possible. For the first time ever, apple ceo tim cook spoke about apples car ambitions in an inclusive interview, and also discussed the companys outlook on china. Take a listen. Tim china, for us, we make our decisions for the longterm, and so we are not investing for next quarter or next year. We are thinking about many, many years out, and as i stand back and look at china, i see megatrends there that make china an incredible market. I dont just mean a market to sell in. I also mean a market for Application Developers. We have 1. 5 million Application Developers in china now, probably closer to 2 million now. So it is an incredible marketplace for talent and in terms of the size of the marketplace. So, the shortterm kinds of economic moves up a