BusinessCurrency traders watch monitors near a screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Aug. 8, 2024. – Asian shares were mixed Thursday after declines on Wall Street, as the gyrations that recently slammed global markets haunted investors.
Some semiconductor equipment makers and related companies saw further losses. Advantest Corp. dropped 3.2% and Disco Corp. sank 4%. But Lasertec Corp.'s stock jumped 22.6% after it reported a 28% jump in its net profit for the fiscal year that ended June 30.Although Wall Street slumped on Wednesday, the decline wasn’t as bad as the manic moves that wracked worldwide markets earlier in the week. European markets logged strong gains.
On Wednesday, the S&P 500 slipped 0.8% after an earlier jump of 1.7% petered out, closing at 5,199.50. The Dow fell 0.6% to 38,763.45. The Nasdaq composite dropped 1% to 16,195.81.Nvidia, one of Wall Street’s most influential companies, went from a morning gain of 4.4% to a loss of 5.1% that made it the index’s heaviest weight. Nvidia and other Big Tech stocks have been struggling on worries their prices have shot too high amid Wall Street’s frenzy around artificial-intelligence technology.
Strong earnings reports from the biggest U.S. companies continue to roll in, and the growth for those in the S&P 500 index may end up being the best since 2021, according to FactSet.
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