People stand in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, March 11, 2024, in Tokyo. Asian shares were mostly lower on Monday after Wall Street’s huge rally faltered last week.
On Friday, the S&P 500 fell 0.7% from its all-time high set a day before, closing at 5,123.69. The Dow dropped 0.2% to 38.722.69, and the Nasdaq slid 1.2% to 16,085.11.Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 recordStock market today: Asian shares rise after Wall Street sets another recordThe jobs report showed employers hired more workers last month than expected, but wages for workers rose by less than forecast.
Lower interest rates encourage people and companies to borrow, which can strengthen the economy. That boosts prices for stocks and other investments.has said the central bank is “not far” from cutting interest rates and just needs more data confirming that inflation is really falling to its 2% target.
But Nvidia was the main stock in the spotlight as it tumbled 5.5% for its worst day since May. It’s a rare blip for the stock that has shot up nearly 77% this year after more than tripling last year.