

Asian shares fall as Nvidia’s earnings disappoint and investors focus on U.S. jobless claims

Asian shares declined, tracking Wall Street futures lower, as Nvidia’s earnings report did not meet the lofty expectations of bullish investors. Although Nvidia’s third-quarter revenue forecast of $32.5 billion exceeded Wall Street estimates, it fell short of the high bar set by those who had fuelled a 180% rally in its shares this year. This led to a 7.6% drop in Nvidia’s stock during after-hours trading, erasing around $236 billion from its market value. This negative sentiment spread across Asian markets, particularly affecting tech-heavy indices. Investors are closely watching U.S. jobless claims and inflation data for potential shifts in Fed policy. Read more to find out why Asian shares declining here.

why Asian shares declining

Disclaimer:

As the trading day progresses, investors will be closely monitoring U.S. weekly jobless claims and inflation data from Germany and Spain. These indicators could provide further insight into the Federal Reserve’s next steps regarding interest rates, potentially setting the tone for global markets in the weeks ahead. Risk management is advised to complement these releases closely for further indications of market trends.

Publication date:

2024-09-02 17:08:00 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.