ASX set for sharp losses as Wall Street falls; Nvidia shines

US stock indexes retreated from their records as concerns about high interest rates weighed on the market.

Nvidia, the chipmaker at the centre of an artificial intelligence boom, gave another bullish sales forecast after the closing bell, showing that spending on AI computing remains strong.Second-quarter revenue will be about $US28 billion , the company said. Analysts on average had predicted $US26.8 billion, according to data compiled by Bloomberg. Results in the fiscal first quarter, which ran through April, also beat projections.

In the bond market, the yield on the 10-year Treasury rose to 4.42 per cent from 4.41 per cent late Tuesday. The two-year yield, which moves more closely with expectations for the Fed, rose a bit more. It climbed to 4.87 per cent from 4.84 per cent.

Business Business Latest News, Business Business Headlines

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

ASX set for sharp losses as Wall Street falls on Fed minutesUS stock indexes are pulling back from their records as concerns about high interest rates add pressure on the market.
Source: smh - 🏆 6. / 80 Read more »

ASX set for sharp losses as Wall Street falls on Fed minutesUS stock indexes are pulling back from their records as concerns about high interest rates add pressure on the market.
Source: theage - 🏆 8. / 77 Read more »