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Asian benchmarks are mixed after Wall Street edges down from record highs
Global fund managers shift portfolios toward stocks despite high valuations as investors weigh Federal Reserve's upcoming rate cut and tariff impacts on exports.
- On Wednesday, U.S. stocks fell slightly from record highs as the Dow dropped 125.55 points to 45,757.90 and the Nasdaq sank 14.79 to 22,333.96.
- This decline followed gains driven by expectations that the Federal Reserve will announce the first of several interest rate cuts amid concerns about a slowing job market.
- Meanwhile, Asian shares traded mixed, with South Korea’s Kospi dropping nearly 1.0% and Hong Kong’s Hang Seng surging about 0.9%, while Japan’s exports to the U.S. fell 13.8% in August amid ongoing tariffs.
- U.S. crude oil prices decreased by $0.08, settling at $64.44 per barrel, while Brent crude dropped $0.09 to $68.38 per barrel. Meanwhile, the euro weakened to $1.1852, and the U.S. dollar strengthened slightly against the yen, reaching 146.69.
- These market moves highlight investor caution despite solid U.S. retail spending and reflect concerns that inflation risks from tariffs may be outweighed by economic slowing.
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Associated Press News+19 Reposted by 19 other sources
Asian benchmarks are mixed after Wall Street edges down from record highs
Asian shares are trading mixed after U.S. stocks edged down from record highs and as market focus turned to expectations for the Federal Reserve’s first interest rate cut of the year.
·United States
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Total News Sources20
Leaning Left9Leaning Right2Center7Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 39%
11%
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