Story thread · 13 reports / 6 sources

Global Market Today: Asian stocks drop as AI rally pauses, oil dips

economictimes.indiatimes.com · 5dShare

Asian stocks slipped Thursday after a recent tech-led rally on Wall Street paused. Crude oil edged lower as Iran reached an agreement with Oman on the Strait of Hormuz.The MSCI Asia Pacific Index declined 0.2%, with South Korea’s Kospi Index falling 1%. Earlier, the S&P 500 Index pulled back from a record high while an index of semiconductor stocks lost more than 1%, even as Nvidia Corp. advanced. SpaceX tumbled 14% despite strong earnings, ahead of the release of about $101 billion of shares for trading Thursday.Sentiment improved in early Asian trading, with S&P 500 Index futures rising 0.1%. However, a cautious tone lingered as memory makers Sandisk Corp. slid 7.5% and Western Digital Corp. plunged 11% in post-market trading after reporting earnings.US crude edged lower on Thursday after Iran said it had reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, a potential step toward reopening the critical waterway. West Texas Intermediate fell 0.4%

First report: Three Asian stocks that are delivering profits — moneyweek.com, 8d