Regional equities decline as oil prices climb and investors brace for Nvidia’s quarterly results amid broader tech sector weakness.
Asian markets retreated Monday, with regional benchmarks and U.S. futures sliding as geopolitical tensions in the Middle East pushed oil prices higher, stoking inflation concerns. The tech sector led losses ahead of Nvidia’s earnings report due later this week, a key catalyst for sentiment in artificial intelligence and semiconductor stocks.
The drop follows last week’s mixed performance, where tech shares underperformed broader indices. Analysts had expected a cautious tone ahead of Nvidia’s results, which could set the tone for AI-related equities. Oil prices surged over 2% in early trading, amplifying fears of persistent inflationary pressures.
Investors shifted toward safe-haven assets, with gold and government bonds gaining. The dollar held steady against major currencies as traders awaited further cues from central bank commentary and economic data later in the week.