It\u2019s the weakest reading since April, when President Donald Trump imposed higher-than-expected tariffs.<\/p>\n
Europe lacked inspiration too with the Dax closing off 1.2% while London and Paris lost marginal ground.<\/p>\n
Major Asian indices had earlier finished lower as well, amid simmering tensions between China and Japan which hit tourism and retail firms on Tokyo\u2019s exchange.<\/p>\n
Besides Nvidia, which dropped 1.9%, US retailers Home Depot, Target and Walmart are also set to release their earnings reports.<\/p>\n
Those will be monitored for signs of how consumers are faring as Trump\u2019s tariffs bite.<\/p>\n
Traders are also waiting for US Government data on how the labour market fared in September. The numbers are due for publication on Thursday (local time), after the end of the longest Government shutdown in US history.<\/p>\n
Peter Cardillo from Spartan Capital Securities said it would be the first glimpse of some macro news that could provide hints on the Fed\u2019s preferred path for interest rates.<\/p>\n
Among companies, he added: \u201cIt\u2019s all up to Nvidia, whether or not it can turn the souring negative sentiment on the AI [artificial intelligence] sector.\u201d<\/p>\n
Dave Grecsek of wealth management firm Aspiriant added that if Nvidia could meet high expectations, \u201cthat could sort of stabilise the market a little bit\u201d.<\/p>\n
The European Union on Monday (local time) cut its eurozone growth forecast for 2026 as risks from international trade and geopolitical tensions weighed on Europe\u2019s economy.<\/p>\n
Investors have in recent weeks reconsidered prospects for US rate cuts and the AI-fuelled tech rally that had lifted several markets to record highs.<\/p>\n
Traders are keenly awaiting the release of several reports \u2013 including on jobs and inflation \u2013 that had been held up by the record US Government shutdown that ended last week.<\/p>\n
With data releases delayed, \u201cchances are growing that the Fed will avoid changing monetary policy when the economic outlook remains murky\u201d, Kathleen Brooks, research director at trading group XTB, said.<\/p>\n
Fed boss Jerome Powell signalled last month that a December cut to borrowing costs was not assured, adding to uncertainty.<\/p>\n
All eyes are on this week\u2019s earnings update from Nvidia, the world\u2019s most valuable company, which late last month hit a market capitalisation of US$5t before slipping back.<\/p>\n
For now, Bitcoin suffered from the uncertain climate on trading floors. The cryptocurrency had climbed to a record high of US$126,251 on October 6, buoyed by Trump\u2019s pledges to ease regulation on the crypto sector, but has fallen from that level to around US$91,634.45.<\/p>\n
Sign up to Herald Premium Editor\u2019s Picks<\/a>, delivered straight to your inbox every Friday. Editor-in-Chief Murray Kirkness picks the week\u2019s best features, interviews and investigations. Sign up for Herald Premium here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"It\u2019s the weakest reading since April, when President Donald Trump imposed higher-than-expected tariffs. Europe lacked inspiration too with…\n","protected":false},"author":2,"featured_media":140565,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[95450,3017,534,138,3028,10709,124,10666,95448,4568,15248,14051,71,14724,13313,1437,305,28162,220,111,139,95449,1042,69,1118,1523,6507,19257,766,10665,5909,781,5424,19554,1361,1961,35432,77447,3040,77446,26229,13558,379],"class_list":["post-140564","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-88t","tag-ahead","tag-amid","tag-business","tag-chip","tag-concerns","tag-could","tag-cuts","tag-doubts","tag-earnings","tag-falls","tag-federal","tag-from","tag-further","tag-giant","tag-global","tag-have","tag-hold","tag-markets","tag-new-zealand","tag-newzealand","tag-notably","tag-nvidia","tag-nz","tag-of","tag-over","tag-overnight","tag-rate","tag-reports","tag-reserve","tag-results","tag-stock","tag-street","tag-taken","tag-that","tag-this","tag-traders","tag-trillion","tag-us","tag-us5","tag-waited","tag-wall","tag-year"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/140564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=140564"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/140564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/140565"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=140564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=140564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=140564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}