Low-angle view of Tokyo’s skyscrapers showing a variety of architectural styles
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Asia-Pacific markets fell on Tuesday, led by declines in benchmark indexes in Japan and South Korea, following a tech-led decline on Wall Street.
Japanese benchmark Nikkei Stock Average fell 3.22% to 48,702.98, and Topix fell 2.88% to 3,251.1. South Korea’s Kospi fell 3.32% to 3,953.62, and the small-cap Kosdaq fell 2.66% to 878.7.
Hong Kong’s Hang Seng index fell 1.72%, while mainland China’s CSI300 index fell 0.65% to 4,568.19.
australian benchmark S&P/ASX 200 It fell 1.94% to 8,469.1.
Japan’s 20-year government bond yield rose about 4 basis points to 2.78%, the highest level since July 1999, according to LSEG data. The 10-year Treasury yield rose about 2 basis points to 1.751%.
As Wall Street awaited important announcements this week, including Nvidia’s earnings and September jobs data, U.S. stock prices tumbled overnight, again plagued by declines in tech stocks.
The Dow Jones Industrial Average fell 557.24 points, or 1.18%, to close at 46,590.24. Losses at popular artificial intelligence chip companies Salesforce and Apple pushed blue-chip indexes lower. The S&P 500 Index fell 0.92% to close at 6,672.41, and the Nasdaq Composite Index fell 0.84% to close at 22,708.07.
Nvidia fell nearly 2% ahead of the company’s third-quarter results, which will be released after the bell Wednesday. Chipmakers and other names in the AI industry have been under pressure recently as investors grow concerned about soaring valuations. Private credit lender Blue Owl Capital fell nearly 6% on concerns about large loans related to the construction of an AI data center.
—CNBC’s Sean Conlon and Fred Imbert contributed to this report.
