Morning Bid: Tech that - Nvidia slump sours market mood

The wave of profit-taking in U.S. Big Tech and AI stocks appears to be gathering momentum, which could depress investor sentiment and risk appetite in Asia on Tuesday even if it is offset by a rotation into cheaper, beaten down sectors.

The market tone across Asia on Tuesday could be set by the tempest brewing in tech. Nvidia shares slumped 6.7% on Monday, bringing their decline in the last three days to 16%, and weighing heavily on semiconductor and tech shares more broadly. Back in the macro world, minutes of the Bank of Japan's last meeting on Monday showed that Japanese policymakers discussed a near-term interest rate hike, with one calling for an increase "without too much delay" to help get inflation back down.Currency traders, however, seem unimpressed.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Markets today: tech hits U.S. stocks as Nvidia extends selloff to 13%Stocks lost traction as an about US$400 billion plunge in Nvidia Corp. raised speculation that the rally in the industry that has powered the bull market was due for a breather.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Tech records, oil, Nvidia's future: Market TakeawaysTech sector funds have seen record inflows this week, according to Bank of America's Investment Strategy and EPFR, while crude oil prices (BZ=F, CL=F) are on...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Nvidia becomes most valuable company: Tech sector concernsWith a market capitalization of $3.34 trillion, Nvidia (NVDA) has become the most valuable publicly traded company on the New York Stock Exchange, surpassing...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »