Asian Stocks Drop Due to Geopolitical Concerns & Nvidia – Asia Market Wrap

Asian markets fell, reflecting macroeconomic concerns and a downbeat atmosphere on Wall Street following Nvidia’s disappointing revenue projection.

A barometer of Asian equities fell 0.3%, with the region’s tech heavyweights among the largest drags. Contracts for US benchmarks plummeted Thursday after Nvidia’s third-quarter results fell short of the highest expectations for future revenue. Indian benchmarks fell as a US indictment of Gautam Adani for an alleged bribery plan caused a drop in the group’s shares.

Given Nvidia’s scale and importance in the AI boom, its profits outlook had an impact on its suppliers and worldwide markets. Geopolitical concerns loomed over markets as Ukraine launched British cruise missiles at military targets in Russia for the first time.

Shares of India’s Adani Group businesses plummeted in Mumbai, as the conglomerate cancelled a $600 million bond offering following US prosecutors’ charges. The group’s current US-currency notes plummeted. US authorities charged Adani, one of the world’s wealthiest individuals, with taking part in a scheme that entailed agreeing to pay more than $250 million in bribes to Indian government officials in order to gain solar energy contracts.

Bitcoin established a new high, reaching $97,000 for the first time, as Trump’s team debates whether to establish a new White House position dedicated to cryptocurrency policy.