A record-breaking US stock rally stalled on Tuesday, as investors weighed cautious comments from Federal Reserve officials and concerns about the sustainability of AI-driven commerce. The S&P 500 fell 0.5%, the Nasdaq 100 fell 0.7%, and the Dow Jones Industrial Average fell 88 points. Nvidia fell 2.8% after a Monday surge linked to its $100 billion OpenAI investment, as investors questioned the deal's structure and energy demand, while Oracle and Amazon fell 4.1% and 3.1%, respectively. On the positive side, Kenvue rose 1.7% after paring losses from Trump's criticism of Tylenol, and...
Asia-Pacific markets fell Wednesday, tracking Wall Street declines after U.S. Federal Reserve Chair Jerome Powell said that "equity prices are fairly highly valued." Powell also signaled that the rate-cutting path wasn't clear and that the central bank faces a "challenging situation." Australia's ASX/S&P 200 lost 0.61%. Japan's benchmark Nikkei 225 slipped 0.33%, while the Topix lost 0.35%. South Korea's Kospi lost 0.11%, while the small-cap Kosdaq traded 0.39% lower. Hong Kong's Hang Seng Index was set to open higher, with its futures contract last traded at 26,188 against the...
Japanese indexes corrected on Wednesday, with the Nikkei 225 down 0.1% to ±45,450 and the Topix down 0.5% to 3,147, erasing the previous session's gains. Pressure came from Wall Street, which retreated from record highs after Fed Chairman Jerome Powell highlighted overpriced valuations and uncertainty about the direction of interest rate cuts amid a complex policy environment.Sentiment was also weighed down by doubts about the sustainability of the AI-driven rally that has been driving major US technology stocks. Investors in Japan tended to reduce risk ahead of the next round of global data...