The technology index crumbled 1.8 percent overnight as disappointing results from Facebook, Twitter and Netflix spurred concerns about future growth for a sector that has led U.S. equities to record highs. Overnight in Wall Street, the Dow and the S&P 500 each lost 0.6 percent and the Nasdaq skidded 1.4 percent. In the currencies market, most major currencies stuck to narrow trading ranges ahead of several central bank decisions. The U.S. Federal Reserve concludes its policy meeting on Wednesday and the Bank of England is seen raising interest rates on Thursday. Month-end macroeconomic data is also due from China on Wednesday.
The BOJ left its key interest rates unchanged while announcing policy tweaks, including a shift in purchases of exchange-traded funds toward assets linked to the Topix equities index and flexibility in bond operations. The central bank will also reduce the amount of bank reserves subject to its negative interest rate and added forward guidance for policy rates. Coming ahead earnings season continues with Barclays, Tesla, Toyota, BMW, and Rio Tinto among companies reporting results. The U.S. Treasury is set to release its funding program for the next three months on August, 1.