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Global Selloff Deepens as Nvidia Euphoria Fades; Crypto Crashes
Asia slumps: Regional equities tumbled, with the Nikkei and MSCI Asia-Pacific both down over 2 % as the delayed US jobs data failed to clarify the Fed’s next move. • Tech-led global selloff: US and European futures fell sharply as AI valuations came under renewed pressure despite Nvidia’s strong guidance. The Nasdaq saw its widest swing since April, while Goldman Sachs warned of USD 39 bn in equity sales from trend-following hedge funds. • US session recap: Wall Street opened higher on Nvidia optimism before reversing hard into the close. Early risk-on saw equities rally, high-beta FX rise, and crude ... (full story)