Asian stocks down after Big Tech pulls S&P 500 and Nasdaq lower

BusinessA person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, Aug. 27, 2024, in Tokyo. – Asian stocks were down Tuesday after a mixed finish on Wall Street, where the Dow Jones Industrial Average climbed to an all-time high while Big Tech companies pulled the S&P 500 and the Nasdaq composite lower.

Japan’s benchmark Nikkei 225 edged down 0.1% in morning trading to 38,055.62. Australia’s S&P/ASX 200 dipped 0.1% to 8,077.50. South Korea’s Kospi dropped 0.4% to 2,687.43. Bond yields held relatively steady. The yield on the 10-year Treasury rose to 3.82% from 3.80% late Friday. Semiconductor company Nvidia reports its latest financial results on Wednesday. It has been a big beneficiary of Wall Street’s mania aroundShares in other chipmakers also fell. Broadcom lost 4.1%, Advanced Micro Devices dropped 3.2% and Lam Research slid 3.4%.

The key report for investors this week will come on Friday, when the the government serves up its latest data on inflation with the PCE, or personal consumption and expenditures report, for July. It is the Federal Reserve's preferred measure of inflation.

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