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Market Review

US:

The U.S. stock market fell as Nvidia and other superstars created by the frenzy around artificial-intelligence technology dimmed some more.

Asia:

Asian stocks declined at the open after Wall Street’s slide, as investors moved away from riskier assets ahead of Nvidia Corp’s earnings and a key US jobs report later this week.

India:

On Monday, the Indian stock market ended higher, led by healthy across-the-board buying, as upbeat Q2 results, and prospects of an India-US trade deal supported sentiment. Market is expected to open on a negative note and likely to witness range bound move during the day.

Global economy:

Japanese Finance Minister Satsuki Katayama on expressed concern over recent foreign exchange movements, as the yen sank to fresh nine-month lows versus the dollar. As we have recently been seeing one-sided, rapid moves in the foreign exchange market, we have been alarmed, Katayama said at a regular news conference.

apanese Prime Minister Sanae Takaichi will launch talks this week on a wide-ranging tax overhaul aimed at supporting investment and household spending while seeking new revenue sources to maintain fiscal discipline.

U.S. firms have begun talking more frequently about layoffs as they plan for weaker demand and possible productivity gains from artificial intelligence, Federal Reserve Governor Christopher Waller said in remarks that continued to build the case for further rate cuts amid a broad policy dispute at the U.S. central bank.

Federal Reserve Vice Chair Philip N. Jefferson said that the balance of risks in the U.S economy has shifted, with growing downside risks to employment even as progress on inflation has stalled. Speaking at an event hosted by the Federal Reserve Bank of Kansas City, Jefferson said the economy had been on a moderate growth path before the recent government shutdown.

Commodities:

Oil prices dipped on Tuesday as supply concerns eased with the resumption of loadings at a Russian export hub, briefly halted by a Ukrainian drone and missile strike, while traders continued to assess the impact of Western sanctions on Russian flows.

Gold fell for a fourth straight session on Tuesday, weighed down by a firm dollar and diminished prospects of a U.S. interest rate cut next month.

Currency:

Asian currencies slipped on Tuesday, extending the previous day’s losses with weak risk appetite keeping investors on the defensive. A roughly 1% drop in U.S. equities on Monday boosted demand for the safe-haven dollar.

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