\u200b\u200b\u200bMacro update<\/p>\n
\u200bWall Street declines:<\/p>\n
\u200bUS equities sold off sharply, with the\u00a0S&P 500<\/a> and\u00a0Nasdaq 100<\/a> breaking below their 50-day moving averages for the first time since April.<\/p>\n \u200bNvidia in the spotlight:<\/p>\n \u200bNvidia<\/a> shares<\/a> eased ahead of Wednesday\u2019s earnings, as stretched artificial intelligence (AI) valuations came under scrutiny following reductions in holdings by prominent investors.<\/p>\n \u200bJobs data now key:<\/p>\n \u200bWith the US government shutdown over, traders turned their attention to Thursday\u2019s delayed September employment report.<\/p>\n \u200bTech downgrades drag:<\/p>\n \u200bDell<\/a> and\u00a0Hewlett Packard Enterprise<\/a> dropped sharply after broker downgrades, while\u00a0Alphabet<\/a> gained more than 3% after\u00a0Berkshire Hathaway<\/a> disclosed a new position.<\/p>\n \u200bAsia follows Wall Street lower:<\/p>\n \u200bRegional equities weakened, with Japan\u2019s\u00a0Nikkei 225<\/a> sliding 3.2% as chipmakers led the decline.<\/p>\n \u200bJapan policy concerns rise:<\/p>\n \u200bA weakening yen and expectations of a sizeable fiscal stimulus pushed long-dated Japanese government bond yields to their highest levels since 1999.<\/p>\n \u200bNasdaq 100 drops like a stone<\/p>\n