Asian stocks fell 0.3%, led by declines in tech heavyweights, as Nvidia’s third-quarter revenue forecast disappointed lofty expectations, dampening sentiment globally. Indian markets underperformed due to a US indictment of Gautam Adani, causing sharp losses in Adani Group shares and bonds.
Nvidia’s ripple effect impacted suppliers like TSMC and SK Hynix. Geopolitical risks, including Ukraine’s use of British cruise missiles, further weighed on markets.
Bitcoin hit a record $97,000 amid discussions of a new White House crypto policy post.
Gold rose for a fourth day, while oil steadied as traders monitored geopolitical developments and rising US crude stockpiles.
Meanwhile, the dollar softened, and US Treasury yields slipped after tepid demand in a debt auction.