On Wednesday, global stocks slipped ahead of expected results from chipmaker Nvidia.
The dollar’s performance varied as investors awaited insights from the Federal Reserve’s last policy meeting about possible interest rate cuts.
The MSCI’s gauge of stocks across the globe fell 0.30% to 745.92, while in Europe, the pan-regional STOXX 600 index dropped by 0.29%, pulled lower by HSBC.
In New York, Wall Street echoed these declines with the tech-heavy Nasdaq leading the way.
Investors waited nervously for Nvidia’s earnings report, which could dampen this year’s AI enthusiasm if the results are not impressive.
Moreover, they also awaited minutes from the Federal Reserve’s latest policy meeting.
Meanwhile, European shares suffered from a drop in banking shares following a disappointing earnings report from HSBC.
Investors eagerly awaited minutes from the Federal Reserve’s last meeting for any clues on the central bank’s rate outlook.
Asian stocks had a mixed performance; Japan’s benchmark stock index finished lower for a second day, as traders waited for U.S.
chipmaker Nvidia’s financial results, whereas Chinese stocks rose for a seventh straight session buoyed by policy efforts to boost market confidence and support the struggling property sector.
Australian shares extended losses on Wednesday, led by mining stocks and concerns about demand in China.
In South Korea, shares extended losses due to profit-booking pressures, but recovered some of their early losses as the country’s pension fund pledged to support the government’s corporate reform plan.
In the foreign exchange market, the yen edged up against the dollar, and the euro fell.
Dollar movements were muted before the Federal Reserve’s release of minutes from its latest meeting and as investors waited on fresh data for further clues on Fed policy.
In the commodity market, gold prices edged up as tensions in the Middle East fueled a rush into safe-haven assets.
Aluminium prices rose to a three-week high on Wednesday on anticipation of an announcement from the United States on sanctions against Russia over the death of opposition leader Alexei Navalny, which could disrupt supplies.
Oil prices rose about 1% in the afternoon trade as geopolitical tensions continued to rage in the Middle East, and traders assessed signs of near-term supply tightness.