Asian shares fall as Nvidia’s earnings disappoint and investors focus on U.S. jobless claims
Asian shares declined, tracking Wall Street futures lower, as Nvidia’s earnings report did not meet the lofty expectations of bullish investors. Although Nvidia’s third-quarter revenue forecast of $32.5 billion exceeded Wall Street estimates, it fell short of the high bar set by those who had fuelled a 180% rally in its shares this year. This led to a 7.6% drop in Nvidia’s stock during after-hours trading, erasing around $236 billion from its market value. This negative sentiment spread across Asian markets, particularly affecting tech-heavy indices. Investors are closely watching U.S. jobless claims and inflation data for potential shifts in Fed policy.
Read more to find out why Asian shares declining here.
Disclaimer:
As the trading day progresses, investors will be closely monitoring U.S. weekly jobless claims and inflation data from Germany and Spain. These indicators could provide further insight into the Federal Reserve’s next steps regarding interest rates, potentially setting the tone for global markets in the weeks ahead. Risk management is advised to complement these releases closely for further indications of market trends.
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