Posted 2/21/2024, 1:59:00 AM
Asian Stocks Fall Amid Tech Declines, Mixed China Response to Confidence Measures
- Stocks in Asia fell following a tech-led decline on Wall Street, with mixed response in Chinese markets to Beijing's latest measures to restore confidence
- Focus is on Nvidia's earnings report, with the company's results seen as a barometer of the AI boom and macro economy
- The Nasdaq fell almost 1% and the S&P 500 dropped below 5000 amid some profit-taking in tech names like Nvidia
- The dollar steadied and Treasury yields were little changed; bearishness on China's steel demand pushed iron ore to 3-month low
- Upcoming US data like Fed minutes and jobless claims, along with euro zone PMIs and CPI, could provide more clues on policy outlook