German factory output falls for sixth consecutive month

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Tech stocks surged on Monday, bouncing back after blue-chips slumped last week to end a nine-week bull run.

The tech-heavy Nasdaq Composite rose 2 per cent on Monday afternoon, heading towards its best day since mid-November as chipmaker Nvidia led the Magnificent Seven group of tech stocks with a 5.5 per cent gain. The benchmark S&P 500 gained 1.2 per cent.

Brent crude, the international oil benchmark, settled 3.3 per cent lower to $76.12 a barrel after Saudi Arabia cut export prices, pointing to weaker demand for fuel. West Texas Intermediate, the US marker, lost 4.1 per cent to $70.77 a barrel, its steepest fall since November 16.

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