Asia-Pacific markets set to slip as Wall Street sinks on tech losses and AI jitters
Low angle view of tall buildings in Tokyo, Japan, showcasing diverse architectural styles
George Pachantouris | Moment | Getty Images
Asia-Pacific markets were poised to fall Tuesday, following a tech-led slide on Wall Street.
Japan’s benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 49,925 and the one in Osaka at 49,810 against the index’s last close of 50,323.91.
Futures for Hong Kong’s Hang Seng index stood at 26,178, lower than its last close of 26,384.28.
Australia’s benchmark S&P/ASX 200 fell 0.76%.
Overnight in the U.S., stocks pulled back, plagued once again by declines in tech, as Wall Street awaited key releases this week, including Nvidia earnings and the September jobs report.
The Dow Jones Industrial Average lost 557.24 points, or 1.18%, to close at 46,590.24, as losses in the artificial intelligence chip darling, along with Salesforce and Apple, pushed the blue-chip index lower. The S&P 500 sank 0.92% to end the day at 6,672.41, while the Nasdaq Composite tumbled 0.84% to settle at 22,708.07.
Nvidia dropped almost 2% ahead of the company’s third-quarter results, which are scheduled for after the bell on Wednesday. The chipmaker and other names in the AI trade were under pressure recently as investors grew anxious about stretched valuations. Blue Owl Capital, a private credit lender, shed nearly 6% amid concerns about its heavy lending tied to the AI data center buildout.
— CNBC’s Sean Conlon and Fred Imbert contributed to this report.
