US and Asian stock markets have gone into reverse after shares in America’s biggest technology firms tumbled.

Companies that have powered US markets to record highs – Apple, Amazon, Alphabet, Microsoft and Facebook – fell between 4% and 8%.

Analysts said fears about the economic shock of coronavirus and a possible second wave prompted the sell-off.

The tech-heavy Nasdaq closed down 5%, the Dow Jones fell almost 3%, and the broad-based S&P 500 lost 3.5%.

In Asian trading Tokyo’s Nikkei index was 1% lower, while Hong Kong’s Hang Seng was down by 1.4%.

Carmaker Tesla, whose shares have soared this year, tumbled 9% on Thursday after falling sharply in the previous two sessions. Another tech heavyweight, Nvidia, ended 9.3% down. Apple’s 8% fall meant $150bn (£113bn) was wiped off the value of the iPhone maker.

The sell-off came after mixed US economic data on Thursday that included a report showing slower services sector growth in August, bigger-than-expected drop in new jobless claims, record job cuts this year and an unexpectedly big trade deficit for July.