SoftBank sheds $15 billion in market capitalisation on US tech stock rout

Topics SoftBank | Tech stocks


By Sam Nussey TOKYO (Reuters) - SoftBank Group Corp <9984.T> shares were down 5% in afternoon trade on Wednesday, extending this week's slump that has wiped $15 billion from its market capitalisation, as investors worried about the conglomerate's exposure to sliding U.S.

tech stocks. The fall takes SoftBank's share decline to 12% since sources told Reuters and other media late last week that the Japanese company made big bets on equity derivatives tied to tech firms. Chief Executive Masayoshi Son said last month.

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