Stocks declined as uncertainty over Federal Reserve interest-rate cuts and stretched technology valuations weighed on sentiment. Cryptocurrencies retreated.
Asian equities dropped 1.5% — set for the first decline this week — with tech stocks poised for the biggest tumble since April. The pullback capped a week in which stocks had rallied on optimism that the end of the US government shutdown would allow data releases. That waned after comments from Fed officials damped expectations for any easing in December.