SoftBank Group Shares Extend Slide as US Tech Slump Weighs

SoftBank Group Corp. shares fell for a second day, following a sharp selloff in US technology shares and as concerns over its investment in Intel Corp. continued to weigh on the company.

The Tokyo-based company tumbled as much as 9.2% Wednesday morning, its biggest intraday decline since April 9, taking its two-day retreat to 12%. Shares slid Tuesday after SoftBank made an announcement that it will invest $2 billion in Intel, with some investors questioning the impact it will have on its earnings.

The broader decline in US tech stocks also dragged SoftBank shares, which have soared in recent months ...