A police officer rides a bicycle past an electronic stock board showing Japan's Nikkei 225 index at a securities firm Friday, April 19, 2024, in Tokyo. Asian markets tumbled Friday, with Japan's benchmark Nikkei 225 down more than 3% on heavy selling of semiconductor-related shares.– Asian stocks tumbled Friday, with Japan’s Nikkei slumping 2.4% on heavy selling of semiconductor-related shares and other market heavyweights.
The yen was slightly firmer against the U.S. dollar, with the latter falling to 154.38 Japanese yen from 154.64 yen. Overnight on Wall Street, the S&P 500 fell 0.2% to 5,011.12 after flipping between small gains and losses through the day. The drop was slight, but it was still enough to send the index to a fifth straight loss. That’s its longest losing streak since October, and it’s sitting 4.6% below its record set late last month.
The only stock to fall more in the S&P 500 was Las Vegas Sands, which sank 8.7% even though it reported better results than expected. Analysts said investors may be worried about competition the casino and resort company is facing in Macau, a southern China enclave that is one of the world's biggest gambling havens.
Yields climbed a bit higher after more reports on Thursday showed the U.S. economy remains stronger than expected.last week than economists expected. It’s the latest sign that the job market remains solid despite high interest rates.
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