Asian stocks steady as AI, Mideast jitters recede; dollar firm on Fed bets
Investors weighed a 165,000-job U.S. payrolls report and an Nvidia inquiry as chip shares steadied after last week’s AI-led selloff.
- On Monday, Asian markets and U.S. futures steadied, with MSCI's Asia-Pacific index rising 0.8% after sliding 4.6% last week, as Nvidia launched an investigation into CEO Jensen Huang regarding foreign intelligence contacts.
- Global stocks had been volatile as the AI trade crumbled amid rising interest rates and Democratic victories at U.S. midterm polls, where voters expressed concerns about data center power costs sparking regulation fears.
- Japan's Nikkei index added 2.5%, while Taiwan's benchmark jumped about 2.5% following last week's rout; Nvidia climbed 2.8% on Friday, recovering from previous sharp declines of 9.3% and 3.2%.
- A blowout jobs report on Friday showed U.S. employers added 165,000 jobs in October, bolstering the case for a Federal Reserve rate hike in December, with market expectations for a 25 basis point increase rising to nearly 80%.
- Nvidia's investigation into Huang follows reports of alleged intelligence gathering for Beijing; Stephen Innes, senior analyst at SPI Asset Management, noted the scrutiny highlights the sensitive intersection of U.S. technology leadership and national security.
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77 Articles
Idaho Press
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Asian Stocks Rebound as Investors Reassess AI Selloff; Bitcoin Rises Above $74,000
Asian markets recovered on Monday after a challenging week for technology stocks, with Taiwan's benchmark surging more than 6% and Japan's Nikkei advancing 3.5%. Bitcoin also climbed above $74,000 as investors evaluated artificial intelligence investment risks, interest-rate expectations and upcoming corporate earnings.
Good morning, After the stock markets plummeted last Thursday due to the massive election victory of the Democrats, first in the United States itself and…
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