Asian Stocks Under Pressure After US Tech Selloff: Markets Wrap
Asian stocks are under pressure as chipmakers fall, following a mixed performance on Wall Street where tech stocks faced selling pressure. Investors are currently cautious, with stock futures remaining flat as the market awaits an upcoming inflation report and earnings from Nvidia Corp. While equities struggle, gold has reached its highest level in three months, with spot gold nearly hitting $4,700 an ounce. Bitcoin has also risen, topping $80,000, as traders react to bond market jitters and US inflation concerns.
Listen to Live Briefing
Real-time synthesized voice briefing · Live Feeds Desk
- ✓ Asian stocks are under pressure following a selloff in US tech stocks.
- ✓ Investors are awaiting earnings from Nvidia Corp.
- ✓ US inflation reports are due later this week.
What changed
Asian markets slipped and gold prices surged as investors shifted focus toward Nvidia earnings and US inflation data.
Live updates
-
Asian Stocks Decline Following US Tech Selloff
Asian stocks are under pressure as chipmakers fall, following a mixed performance on Wall Street where tech stocks faced selling pressure. Investors are currently cautious, with stock futures remaining flat as the market awaits an upcoming inflation report and earnings from Nvidia Corp. While equities struggle, gold has reached its highest level in three months, with spot gold nearly hitting $4,700 an ounce. Bitcoin has also risen, topping $80,000, as traders react to bond market jitters and US inflation concerns.
Why it matters
Nvidia is currently experiencing its longest losing streak since 2022, which has dragged down the Nasdaq. The market is looking to the Federal Reserve's Jackson Hole summit and Nvidia's earnings for signals on the future of artificial intelligence and monetary policy.
What is confirmed
- Asian stocks are under pressure following a selloff in US tech stocks.
- Investors are awaiting earnings from Nvidia Corp.
- US inflation reports are due later this week.
Still unconfirmed
- Oil prices are falling despite threats of US sanctions on Iran.
What to watch next
- Nvidia earnings report
- US inflation report
- Federal Reserve Jackson Hole summit
confidence 85%Sources used for this update (8)
- consent.yahoo.com — Strategy Inc (MSTR) Latest Stock News & Headlines - Yahoo Finance
- CNBC — Stock futures are flat as investors await Nvidia earnings, inflation report due later this week: Live updates
- Bloomberg.com — Asian Stocks Under Pressure After US Tech Selloff: Markets Wrap
- Yahoo Finance — Stock market today: S&P 500, Nasdaq futures recover in countdown to Nvidia earnings, Fed Jackson Hole summit
- Seeking Alpha — Wall Street mixed as tech stocks come under pressure
- Barron's — Nvidia's Longest Losing Streak Since 2022 Is Dragging on the Nasdaq
- www.theguardian.com — Gold hits highest level in three months as traders worry about US inflation and bond market jitters – business live
- www.swissinfo.ch — Asian Stocks Slip as Chipmakers Fall, Gold Gains: Markets Wrap
Community Sentiment: How do you assess this situation?
Voice your perspective · Real-time aggregated sentiment from the Live Feeds community