Global stocks were mixed on Tuesday following a drop by Wall Street’s NVIDIA. The Dow Jones Industrial Average future remained flat, while S&P 500 futures saw a slight decrease. European markets opened lower, with France’s CAC 40 and Germany’s DAX experiencing losses. Japan’s Nikkei 225 rose after Bank of Japan data showed a slowdown in May’s services producer price index. The Japanese yen continued to be a focus, trading near a 34-year low against the US dollar.
Hong Kong’s Hang Seng recovered losses to finish slightly up, while the Shanghai Composite Index fell. Australia’s S&P/ASX 200 gained, and South Korea’s Kospi rose. Taiwan’s Taiex and Bangkok’s SET also saw increases. On Monday, the S&P 500 and Nasdaq Composite fell, with Nvidia dragging down the latter. Oil and gas companies performed well, with Exxon Mobil and SLB gaining. Nvidia’s decline raised concerns about a stock market bubble and high investor expectations.
Treasury yields fell slightly, with the 10-year Treasury yield dropping from late April highs. The Federal Reserve’s decision to maintain high interest rates has impacted the bond market. Benchmark U.S. crude oil prices dropped, while the euro remained stable. Overall, the market remained cautious amid ongoing economic uncertainty and fluctuating stock performances.
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