{"id":2974,"date":"2024-07-12T01:43:19","date_gmt":"2024-07-12T01:43:19","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=2974"},"modified":"2024-07-12T01:43:19","modified_gmt":"2024-07-12T01:43:19","slug":"asian-markets-dip-as-tech-stocks-tumble-in-the-us","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/asian-markets-dip-as-tech-stocks-tumble-in-the-us\/","title":{"rendered":"Asian Markets Dip as Tech Stocks Tumble in the US"},"content":{"rendered":"\n

Asian stock markets experienced a downturn following a significant drop in US tech stocks, fueled by expectations of potential interest rate cuts due to slowing inflation in the US. The Japanese yen showed volatility amid speculations of market interventions.<\/p>\n\n\n\n

Key Point:-<\/p>\n\n\n\n

\u2022. Japan: Japanese shares dropped over 1% after a rally in the yen on Thursday suggested possible official intervention. The yen continued to fluctuate based on local reports of the Bank of Japan\u2019s market activity.
\u2022 South Korea: The Kospi Index fell, pulled down by major tech companies.
\u2022 Australia: Contrary to the general trend, Australian shares saw gains.<\/p>\n\n\n\n

In the US, the Nasdaq 100 fell by 2.2%, affecting major tech companies like Nvidia. This was in response to data showing US core consumer prices rising at the slowest rate since 2021, which increased the likelihood of Federal Reserve rate cuts.<\/p>\n\n\n\n

\u2022   Market Rotation: There was a noticeable shift from tech stocks to riskier investments. Callie Cox from Ritholtz Wealth Management noted that while tech stocks suffered, the rest of the market showed resilience, which is positive for long-term investors.\n\u2022   Small-Cap Stocks: US small-cap stocks, represented by the Russell 2000, outperformed the Nasdaq 100 by a significant margin, showing their best performance since November 2020.\n\u2022   Interest Rates and Bonds: The prospect of lower US interest rates led to a decrease in 10-year Treasury yields and a drop in the dollar\u2019s value, both of which stabilized on Friday. Australian and New Zealand government bonds opened higher.<\/code><\/pre>\n\n\n\n
Fed Bank of Chicago President Austan Goolsbee called the inflation data \u201cexcellent,\u201d reinforcing confidence in the Fed\u2019s path to its 2% inflation target. Chris Larkin from E*Trade noted that while a July rate cut remains unlikely, the recent data brought markets closer to expecting a cut in September.<\/p>\n\n\n\n
Source:- ET<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"
Asian stock markets experienced a downturn following a significant drop in US tech stocks, fueled by expectations of potential interest rate cuts due to slowing inflation in the US. The Japanese yen showed volatility amid speculations of market interventions. Key Point:- \u2022. Japan: Japanese shares dropped over 1% after a rally in the yen on […]<\/p>\n","protected":false},"author":1,"featured_media":2975,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[53],"tags":[88,89],"class_list":["post-2974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-market","tag-asian-market-dip","tag-global-news"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/2974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=2974"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/2974\/revisions"}],"predecessor-version":[{"id":2976,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/2974\/revisions\/2976"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/2975"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=2974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=2974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=2974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}