China Stocks Set to Open Lower as Tech Selloff on Wall Street Weighs

China's stock market may extend losses Friday after the Shanghai Composite Index fell 0.82% to 3,651.43 on Thursday, its second decline in three sessions. The Shenzhen Composite dropped 2.80% to 2,113.30. The bearish lead came from Wall Street, where the NASDAQ tumbled 1.38% to close at 26,184.72 and the S&P 500 shed 0.30% to 7,720.39. Technology stocks drove the retreat after Alphabet (GOOGL) plunged 13.2% on weaker-than-expected third-quarter revenue and negative free cash flow. Market sentiment was also shaped by a U.S. Commerce Department report showing September consumer prices rose in line with estimates. December WTI crude fell 0.77% to $101.99 per barrel on expectations of a possible de-escalation in the U.S.-Iran conflict.