Stocks slipped for a second straight day as concerns over lofty technology valuations weighed on sentiment. Treasuries advanced and investors sought the safety of haven currencies such as the yen.
Asian shares fell 1.1% and contracts for the S&P 500 index retreated 0.2% — both gauges well off the session’s low — after tech shares were hit the hardest on Wall Street. Although sentiment got better as the trading session progressed, it was weak at the start after Super Micro Computer Inc. shares slumped in late trading and Advanced Micro Devices Inc. failed to impress investors with its revenue forecast.