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 index's previous close of 26,159.12.
Australia is set to release its inflation data for August later in the day.
Overnight stateside, the three major averages ended the trading day lower. The S&P 500 took a pause from its recent gains as doubts about the sustainability of the artificial intelligence bull trend worried investors.
The broad market index closed down 0.55% at 6,656.92 after reaching a new all-time intraday high earlier in the session and posting a record close on Monday. The Nasdaq Composite fell nearly 1% to settle at 22,573.47, with the losses led by AI names like Nvidia, Oracle and Amazon. The Dow Jones Industrial Average finished 88.76 points, or 0.19%, lower at 46,292.78.
Source: CNBC
Stocks in Europe were higher on Tuesday, with the STOXX 50 adding 0.5% and the STOXX 600 rising 0.6%, extending gains from the previous session, amid further signs the end of the US government shutdow...
Asian stocks advanced for a second consecutive day as progress toward ending the record-long US government shutdown lifted sentiment, sparking a cross-asset rally from commodities to cryptoc...
US stocks started the week strongly, with the S&P 500 rising 1.6%, the Nasdaq gaining 2.4%, and the Dow Jones Industrial Average rising about 415 points after the Senate approved a procedural move...
European stocks rallied on Monday (November 10th), rebounding from a three-week low hit on Friday, as investors welcomed early signs that the historic US government shutdown was nearing an end and as ...
Wall Street's main indexes opened higher on Monday, with risk sentiment aided by signs of progress in Washington to end a record U.S. government shutdown that has stalled economic data releases and in...
Brent crude oil futures fluctuated between small gains and losses at around $64 per barrel on Monday, as traders awaited fresh reports on a possible global oil surplus. OPEC will release its monthly outlook Wednesday, alongside the IEA's annual...
Global financial market optimism has increased after the latest data indicated a strong chance that the Federal Reserve (The Fed) will cut interest rates in December 2025. According to the CME FedWatch Tool, the probability of a 25 basis point...
Stocks in Europe were higher on Tuesday, with the STOXX 50 adding 0.5% and the STOXX 600 rising 0.6%, extending gains from the previous session, amid further signs the end of the US government shutdown is close. After a pact reached in the Senate...
The longest government shutdown in U.S. history could end this week after a compromise that would restore federal funding cleared an initial Senate...
Global stock markets rallied at the start of the week amid growing optimism that the US government shutdown will soon end. S&P 500 futures rose...
Asian stocks advanced for a second consecutive day as progress toward ending the record-long US government shutdown lifted sentiment,...
China has begun designing a new rare earth licensing regime that could speed up shipments, but it is unlikely to amount to a complete rollback of...