Stock market today: Asian shares are mixed after Big Tech losses pull Wall Street lower

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A sign marking the intersection of Wall Street and South Street is shown in New York's Financial District on Tuesday, Nov. 26 2024. – Shares were mixed Thursday in Asia after stocks on Wall Street retreated, weighed down by losses for technology shares.The Bank of Korea cut its key rate by a quarter percentage point to 3% and lowered its outlook for the country’s economic growth from to 2.2% from 2.4% for this year and to 1.9% from 2.1% for 2025.Hong Kong's Hang Seng index lost 1.

HP sank 11.4% after giving investors a weaker-than-expected earnings forecast for its current quarter. Dell slid 12.2% after its latest quarterly revenue fell short of Wall Street forecasts. Consumers have been driving economic growth, but the latest round of earnings reports from retailers shows a mixed and more cautious picture.

Overall, inflation has been falling broadly since it peaked more than two years ago. The PCE, which is the Federal Reserve's preferred measure of inflation, was just below 7.3% in June of 2022. Another measure of inflation, the consumer price index, peaked at 9.1% at the same time.

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