US equity markets logged fresh falls, with the Nasdaq falling to its lowest level in two years as investors eye the latest inflation figures and corporate earnings releases later in the week - Dow fell -94-points or -0.32%, The broader S&P500 lost -0.75%, Energy (down -2.06%) and Information Technology (-1.56%) led seven of the eleven primary sectors lower. The technology centric Nasdaq retreated for a fourth consecutive session, down -1.04% at 10,542.10 and logging its lowest close since 28 July, 2020. Chipmakers were under fresh pressure following the Biden administration announcement of new export controls that limit U.S. companies selling advanced computing semiconductors and related manufacturing equipment to China. Advanced Micro Devices Inc fell -1.08% and Nvidia Corp -3.36%. PayPal Inc fell -6.27% after backtracking on a change to their acceptable use policy that would have fined users US$2,500 for spreading “misinformation”. The proposal prompted a backlash from account holders, politicians and corporate executives alike (including PayPal’s previous president, David Marcus, and Tesla Inc’s (-0.05%) Elon Musk).The small capitalisation Russell 2000 lost -0.60%.
