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Snapshot of market data. For more Asian market news, click here. |
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U.S. stock markets tried to steady from their epic one-day shakeout before giving it up late in the day, amid jitters about AI earnings potential that deflated megacaps, and, thus, the whole market on Wednesday. The S&P 500 and Nasdaq rallied during the session, but closed down 0.5% and 0.9% respectively. The Dow Jones Industrial Average hung on to close 0.2% higher and small-cap stocks also rose as investors sought out value away from the megacaps. Tesla <TSLA.O> was the only one of the so-called Magnificent 7 stocks to climb out of its hole, ending 1.7% higher after losing more than 12% Wednesday. Alphabet <GOOGL.O>, Apple <AAPL.O>, Amazon <AMZN.O>, Meta <META.O> and Microsoft <MSFT.O> all fell, with earnings reports looming next week, as did AI leader Nvidia, which reports later in August.
MSCI’s broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> closed 1.00% lower, while Japan’s Nikkei <.N225> is coming off a 3.28% tumble.
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Today’s Market News |
Key developments that could provide more direction to markets on Friday: |
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