Wall Street slides as AI-linked stocks retreat, putting ASX on track to open lower
AI Market Summary
Global equities softened as a renewed AI/semiconductor selloff (including Nvidia) dragged the Nasdaq and weighed on risk appetite, with elevated bond yields maintaining valuation pressure on growth stocks. Ongoing Iran-war-related energy concerns kept oil firm, but higher energy-linked inflation expectations have contributed to the bond rout. In Australia, weaker gold prices pressured miners while mixed earnings drove idiosyncratic moves across energy, healthcare and property.
Impact level
● High
Affected assets
NCSKNVDA2USD/USDT-1.48%
AI Insight · NCSKNVDA2USD/USDTAI Insight
▼ Bearish
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Wall Street fell as AI-related stocks retreated, a move expected to weigh on the ASX at the open. Gold prices dropped 1.8% overnight, pressuring gold miners. Santos rose 3% after lifting its production outlook, while Healius fell 3.4% on a wider full-year net loss. Stockland jumped 13.7% after reporting a 20.2% increase in profit.
