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Asian Markets Slip as Traders Eye Tech Rally, US Rate Outlook
Markets fell amid AI investment surges and concerns over US interest rate cuts, with tech stocks at record highs and potential correction risks, analysts said.
- On Tuesday, Asian markets fell as investors weighed a tech rally driven by artificial intelligence against fears of an AI bubble and the US interest-rate outlook.
- A surge in AI investment this year has pushed technology equities to record valuations, but Jerome Powell, Federal Reserve chair, indicated last week that a third rate cut is not definite, limiting further buying.
- In company moves, BP shares slipped after oil's decline, while crude prices fell about 1.5 percent Tuesday, pressuring energy stocks.
- The Reserve Bank of India intervened to steady the rupee, which rallied from near a record low amid export worries as New Delhi struggles with United States trade negotiations.
- Analysts warned of correction risk as Brooks cited possible retrenchment in the next 1-2 years, while Ozkardeskaya noted, `Some skeptics continued to raise their eyebrows, concerned by the circularity of these deals.
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Asian markets slip as traders eye tech rally, US rate outlook
Asian markets fell Tuesday as investors assessed the latest tech rally on Wall Street amid worries a bubble is forming in the sector, while mixed signals from Federal Reserve officials fed uncertainty over its next interest rate move.
The dwindling outlook for a fall in interest rates in the US is becoming a burden for the markets. In the DAX, the 24,000-point mark remains a heavy hurdle - initially it is expected to go down.
·Hamburg, Germany
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Coverage Details
Total News Sources40
Leaning Left4Leaning Right7Center6Last UpdatedBias Distribution41% Right
Bias Distribution
- 41% of the sources lean Right
41% Right
L 24%
C 35%
R 41%
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