Asian Stocks to Fall as Yen Plunges to Fresh Low: Markets Wrap

-- Shares in Asia were set to open lower after US tech stocks fell in late trading while the yen weakened, triggering fresh speculation officials may step in to support the currency.Nvidia Rout Takes Breather as Traders Scour Charts for Support

“It’s all about the Fed. Higher for longer is keeping the front end of rates very high, drawing money into the US and keeping the dollar strong,” said Andrew Brenner, head of international fixed income at NatAlliance Securities LLC. For Japan, “it’s a problem.” “The stock market is way too reliant on big tech — period and end of story,” said David Bahnsen at The Bahnsen Group. “Whether or not the past week’s volatility in tech is the start of something deeper or if that reckoning is still forthcoming remains to be seen, but excessive investor sentiment, euphoria and overdone momentum always ends the same.”

After 7 years of working for Nvidia’s CEO Jensen Huang, the chipmaker's outgoing VP said that her boss taught her about the importance of first principles thinking, zero-billion dollar markets and speed-of-light execution.Prices for services pushed the annual rate of inflation up to 2.9 per cent in May, according to Statistics Canada.Guggenheim analyst Ronald Jewsikow started coverage of shares of electric-vehicle maker Rivian with a Buy rating and $18 price target.

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