Asian stock markets sagged on Friday after U.S. tech shares retreated from recent rallies, though optimism about U.S. corporate earnings and the global economy underpinned overall sentiment. European shares were expected to open lower, with spread-betters looking for Germany's DAX to fall 0.7 percent and Britain's FTSE to drop 0.6 percent. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1 percent, erasing almost all of its weekly gains, with Samsung Electronics, Asia's largest company by market capitalization, dropping 4.4 percent.
In 2000, the S&P 500 telecom sector was stuffed with a dozen companies. Today, it is down to four. The question now awaiting investors is: Will the sector disappear entirely?