Asian Stocks Slip 0.2% as Wall Street Pauses and Iran-Oman Strait Deal Eases Oil
Updated
Updated · Bloomberg · Aug 6
Asian Stocks Slip 0.2% as Wall Street Pauses and Iran-Oman Strait Deal Eases Oil
3 articles · Updated · Bloomberg · Aug 6
Summary
MSCI’s Asia Pacific Index fell 0.2% on Thursday, with South Korea’s Kospi down 1%, after a tech-led Wall Street rally lost momentum.
U.S. stocks had set the tone: the S&P 500 pulled back from a record high and a semiconductor index dropped more than 1%, even as Nvidia advanced.
Crude oil edged lower after Iran reached an agreement with Oman on the Strait of Hormuz, easing immediate supply concerns tied to the key shipping route.
SpaceX shares tumbled 14% despite strong earnings, with about $101 billion of stock set to become available for trading Thursday, adding to the cautious market mood.