Low angle view of tall buildings in Tokyo, Japan, showcasing diverse architectural styles
George Pachantouris | Moment | Getty Images
Asia-Pacific markets fell Tuesday, led by declines in Japan and South Korean benchmark indexes, following a tech-led slide on Wall Street.
Japan’s benchmark Nikkei 225 fell more than 3%, while the Topix declined 2.7%. South Korea’s Kospi was down 3.15%, while the small-cap Kosdaq dropped 2.72%.
Hong Kong’s Hang Seng index lost 1.6% and mainland China’s CSI 300 fell 0.44%.
Australia’s benchmark S&P/ASX 200 dropped 1.94%.
Yields on Japan’s 20-year government bonds rose almost 4 basis points to 2.78%, the highest since July 1999, data from LSEG showed. Yields on the 10-year government bond rose around 2 basis points to 1.751%.
Overnight in the U.S., stocks pulled back, plagued once again by declines in tech, as Wall Street awaited key releases this week, including Nvidia earnings and the September jobs report.
The Dow Jones Industrial Average lost 557.24 points, or 1.18%, to close at 46,590.24, as losses in the artificial intelligence chip darling, along with Salesforce and Apple, pushed the blue-chip index lower. The S&P 500 sank 0.92% to end the day at 6,672.41, while the Nasdaq Composite tumbled 0.84% to settle at 22,708.07.
Nvidia dropped almost 2% ahead of the company’s third-quarter results, which are scheduled for after the bell on Wednesday. The chipmaker and other names in the AI trade were under pressure recently as investors grew anxious about stretched valuations. Blue Owl Capital, a private credit lender, shed nearly 6% amid concerns about its heavy lending tied to the AI data center buildout.
— CNBC’s Sean Conlon and Fred Imbert contributed to this report.
