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Asian shares mostly slip as market focus turns from Nvidia to US economy

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United States Government,Financial Markets,Inflation

Asian shares are mostly lower as market attention turns to upcoming data on the U.S. economy after Nvidia reported its financial results. Benchmarks fell in Thursday morning trading in Tokyo, Sydney, Seoul, Hong Kong and Shanghai.

A person walks in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Thursday, Aug. 29, 2024, in Tokyo. A person walks in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Thursday, Aug. 29, 2024, in Tokyo. A person rides a bicycle past an electronic stock board showing Japan’s Nikkei index at a securities firm Thursday, Aug. 29, 2024, in Tokyo.

The White House statement said both sides would keep lines of communication open. Worries are growing lately about tensions over Taiwan. Wall Street and the Fed are trying to gauge the resiliency of U.S. consumers amid the squeeze from inflation and high borrowing rates. The central bank is expected to begin trimming its benchmark interest rate back from a two-decade high at its next meeting in September.

All told, the S&P 500 fell 33.62 points to 5,592.18. The Dow fell 159.08 points to 41,091.42. The Nasdaq fell 198.79 points to 17,556.03.

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