SINGAPORE, Nov 5 (Reuters) – Asian stocks extended an overnight selloff on Wall Street in early trading on Wednesday as investor concerns about stretched valuations sapped confidence.
Sign up here.
“It’s a sea of red across broad markets,” said Chris Weston, head of research at Pepperstone Group in Melbourne. “There aren’t many reasons to buy here, and until we move closer to Nvidia’s earnings on 19 November, the market lacks a short-term catalyst.”
The warnings come as a surge in enthusiasm for generative AI has swept across stock markets worldwide this year, drawing comparisons to the dot-com bubble.
The U.S. dollar dropped 0.2% against the yen to 153.41 after the release of minutes from the Bank of Japan’s September policy meeting,
The dollar index , which tracks the greenback against a basket of currencies of other major trading partners, briefly touched a five-month high of 100.25.
The yield on benchmark 10-year Treasury notes edged lower to 4.0697% compared with its U.S. close of 4.091% on Tuesday.
Bitcoin fell below $100,000 for the first time since June, but rebounded afterwards and was last up 0.2% at $100,499.70. Gold attempted to recover after three consecutive days of losses, and was trading 0.1% higher at $3,936.48 per ounce.
The European single currency was little changed in early trading at $1.1484 after hitting a three-month low following five straight days of declines.
Brent crude was last unchanged at $64.44 per barrel.
Reporting by Gregor Stuart Hunter
Editing by Shri Navaratnam
Our Standards: The Thomson Reuters Trust Principles.
