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August 24, 2015

UK tech shares hit by Chinese market drop

Bad news travelling west with New York and Nasdaq expected to open sharply down

By CBR Staff Writer

Tech stocks were hit by the wave of selling following Monday’s 9% plunge on the Chinese stock market.

European markets opened down and suffered further falls with $40bn wiped off the value of stocks on the FTSE 100 in the first hours of trading.

In London Dixons Carphone Warehouse fell just over 3% in morning trading with similar losses for Vodafone and TalkTalk.

There were smaller falls for financial software house Sage,

On the AIM market, home to many tech firms including iomart (down 2.4%, Monitise down 2.2%) the market as a whole fell by 3.02%

The tech heavy Nasdaq stock exchange is expected to open down.

Tech stocks were already suffering on Friday Apple, Facebook, Netflix ,Microsoft and Intel all down.

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