US equity markets declined sharply as investors continued to rotate out of technology stocks while mulling the latest economic data and corporate earnings releases - Dow -669-points or -1.34% Cisco Systems Inc tumbled -12.32%, booking its worst single session decline since 2022 and the worst performer in the 30-stock index following the release of the networking giant’s fourth quarter result after the close of the previous session that recorded a decline gross margins as memory costs surged. Apple Inc (-5%, wiping ~US$202B off the company in market capitalisation terms) and Walt Disney Co (-5.31%) lost -5%+, while International Business Machines (IBM) Corp (-4.87%) and Goldman Sachs Group Inc (-4.24%) both fell over >4%. McDonalds Corp +2.74% Walmart Inc +3.78%
