Stock market today: Asian shares fall after Wall Street pulls back from its records

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Asian shares outside of China are lower in cautious trading ahead of earnings reports both in the region and overseas, after Wall Street's long, record-breaking rally ran out of steam.

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FILE - People pass the New York Stock Exchange, at rear, in New York's Financial District on Oct. 16, 2024. A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, Oct. 22, 2024, in Tokyo. – Asian shares outside of China declined in cautious trading Tuesday ahead of earnings reports both in the region and overseas, after Wall Street’s long, record-breaking rally ran out of steam.

Real-estate stocks fell to the sharpest loss among the 11 sectors that make up the S&P 500 index, while homebuilders Lennar and D.R. Horton both fell at least 4.3%. Home Depot’s 2.1% drop was one of the heaviest weights on the S&P 500. Trump Media & Technology Group rose 5.8% to top $31, continuing its strong run since it briefly dipped below $12 last month. The company behind former President Donald Trump’s Truth Social platform is still losing money, but its stock often moves more with his perceived chances of reelection than anything else.

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