Asian Stocks Today: Markets Fall After Wall Street Losses; HSI loses 1%, Nikkei loses more than 840 points – The Times of India

Asian markets were in the red on Friday as investors reacted to a sharp decline on Wall Street.Hong Kong’s HSI fell 301 points or 1.11% to 26,771. Nikkei also fell 847 points or 1.65% to reach 50,434 points at 8:45 AM IST. Shanghai and Shenzhen were also in the red, with a decline of 0.13% and 1.07% respectively. In South Korea, Kospi plummeted to 4,071, a loss of 99 points or 2.38%.The decline also came as traders grew cautious about next month’s US Federal Reserve interest rate decision, along with lingering concerns about a possible technology bubble.Fed Chairman Jerome Powell’s comments last month, in which he said a cut in December was not a “foregone conclusion” also raised doubts. Several other Fed officials have recently shared similar concerns.This week, three regional Fed presidents warned against easing too quickly. St. Louis Fed President Alberto Musalem said the bank “must exercise caution,” adding that “there is limited room for further easing without monetary policy becoming overly accommodative.” Investors are also awaiting key economic data, including jobs and inflation figures, which have been delayed due to the record-long shutdown. Concerns about interest rates come at the same time as concerns that technology stocks may be too expensive. A huge rush into artificial intelligence has pushed markets to record highs this year, but some analysts now say it could take longer for the gains to materialize. The American stock markets fell sharply on Thursday. The Nasdaq fell more than 2%, while the Dow Jones and the S&P 500 both fell 1.7%.Oil prices rose after the International Energy Agency warned that new US sanctions on Russia’s two biggest oil producers could threaten output. The IEA said the sanctions could have “the most far-reaching impact yet on global oil markets”.Friday’s gain of more than 2% came after crude oil prices fell earlier this week as OPEC forecast a third-quarter oversupply.