Asian stocks decline, following Wall Street's drop on worries about the economy

HONG KONG — Asian stocks tumbled Wednesday after Wall Street had its worst day since early August, with the heavyweight Nvidia falling 9.5%, leading to a global decline in chip-related stocks.

U.S. futures were lower. Rising oil supply was driving down prices, as Libya moved closer to resolving a conflict over control of the country’s oil revenue that meant its oil production may soon increase. On Tuesday, the S&P 500 sank 2.1% to give back a chunk of the gains from a three-week winning streak that had carried it to. The Dow Jones Industrial Average dropped 626 points, or 1.5%, from its own record set on Friday before Monday’s Labor Day holiday. The Nasdaq composite fell 3.3% as Nvidia and other Big Tech stocks led the way lower.Treasury yields also stumbled in the bond market after a report showed U.S.

All told, the S&P 500 fell 119.47 points to 5,528.93. The Dow dropped 626.15 to 40,936.93, and the Nasdaq composite sank 577.33 to 17,136.30.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stocks Set to Fall as Tech Drags Wall Street: Markets Wrap(Bloomberg) -- Asian equities are poised to come under pressure Tuesday after technology stocks dragged down Wall Street as traders repositioned ahead of...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian stocks mixed after Wall Street rallies as 'time has come' for rate cutsHONG KONG (AP) — Asian stocks were mixed Monday after U.S. stocks rallied close to their records on the expectation the Federal Reserve will start cutting...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »